Kate Spade dies at 55
Famed fashion designer and retail icon Kate Spade has died in an apparent suicide.
The 55-year old Spade was found dead Tuesday inside her home on Manhattan’s Upper East Side. According to multiple reports, she hanged herself. Spade is survived by her husband, Andy, and their 13-year-old daughter.
Spade and her husband (husband-to-be at the time) co-founded Kate Spade in 1993. The couple quickly built the brand into a runaway sensation, beloved for its bright and sunny ethos. In 1999, the Spades sold the majority of their company to Neiman Marcus Group in 1999 for a reported $34 million, and the remaining portion in 2006 for another $59 million. Over the years, the line, which was founded as a handbag collection, expanded into a full lifestyle brand that included everything from home décor to shoes.
In May 2017, Coach (now called Tapestry) acquired Kate Spade & Company in a deal valued at $2.4 billion. The Kate Spade New York division of the company has more than 140 U.S. stores and some 175 around the globe. Tapestry’s shares dipped more than 2% on the initial news of Spade’s death.
“We are all devastated by today’s tragedy,” the Spade family said in a statement, reported the New York Times. “We loved Kate dearly and will miss her terribly. We would ask that our privacy be respected as we grieve during this very difficult time.”
The 55-year old Spade was found dead Tuesday inside her home on Manhattan’s Upper East Side. According to multiple reports, she hanged herself. Spade is survived by her husband, Andy, and their 13-year-old daughter.
Spade and her husband (husband-to-be at the time) co-founded Kate Spade in 1993. The couple quickly built the brand into a runaway sensation, beloved for its bright and sunny ethos. In 1999, the Spades sold the majority of their company to Neiman Marcus Group in 1999 for a reported $34 million, and the remaining portion in 2006 for another $59 million. Over the years, the line, which was founded as a handbag collection, expanded into a full lifestyle brand that included everything from home décor to shoes.
In May 2017, Coach (now called Tapestry) acquired Kate Spade & Company in a deal valued at $2.4 billion. The Kate Spade New York division of the company has more than 140 U.S. stores and some 175 around the globe. Tapestry’s shares dipped more than 2% on the initial news of Spade’s death.
“We are all devastated by today’s tragedy,” the Spade family said in a statement, reported the New York Times. “We loved Kate dearly and will miss her terribly. We would ask that our privacy be respected as we grieve during this very difficult time.”