Liz Claiborne completes acquisition of Kate Spade, accessories designer
14 Dec '06
2 min read
Liz Claiborne Inc announced that it has completed the purchase of all of the equity interest in Kate Spade LLC ("Kate Spade") for a purchase price of approximately $124 million.
Based in New York City, Kate Spade is a designer, marketer, wholesaler and retailer of fashion accessories for women and men through its kate spade and JACK SPADE brands.
Kate Spade generated net sales of approximately $84 million for the fiscal year ended July 30, 2006.
Kate Spade's products are positioned as accessible luxury, targeting women of all ages who appreciate the combination of fashion and practicality.
Kate Spade sells its products through a multi-channel, multi-geography distribution strategy, including company-owned retail and outlet stores, domestic and international wholesale accounts and e-commerce.
Domestic department store distribution includes high-end purveyors such as Neiman Marcus, Saks Fifth Avenue, Nordstrom, and Bloomingdale's.
Currently, the company operates nineteen Kate Spade specialty retail stores, four Kate Spade outlets and one Jack Spade specialty retail store.
Kate Spade's product line includes handbags, small leather goods, fashion accessories, luggage and baby products.
In addition, Kate Spade has existing licensing agreements for shoes, eyewear, tabletop and paper products as well as arrangements with international distributors in Asia.
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