Kate Spade is an American fashion designer and a business magnate who has successfully established herself as a true fashion mogul with her line of designer handbags. Her fashion label, “Kate Spade New York” caters to women of all ages and the line ranges from handbags, apparels and accessories. The brand has become a household name, cementing itself as a fashion staple in every household. Let’s delve more into Kate Spade’s life and current net worth. Keep on reading!
Kate Spade was named Katherine Noel Brosnahan at birth. She was born on the 24th of December, 1962 in Kansas City in the state of Missouri, USA. Her father was the owner of a construction company and her mother was a housewife. Kate attended St. Teresa’s Academy and after graduating, she chose to go to University of Kansas before transferring to Arizona State University majoring in journalism, Class of 1985. Her interest in fashion didn’t sprout from her younger days, the love cultivated later on during her college years. Her initial days as a working women were spent at a motorcycle bar.
While in school, Kate Spade progressed not only academically, but her love life flourished as well, she met her future husband, Andy Spade at a part time job and the couple soon started dating. The pair married in 1994. They have one child, a baby girl named, Frances Beatrix Spade. Kate now resides in New York with her husband and her daughter.
Kate Spade, after graduating from college, moved to New York in 1985. The move to New York proved to be quite a hit for Kate. She landed a job at Mademoiselle magazine in Manhattan and after 6 turbulent years soon headed the Accessories department. The monotonous life became too heavy for the always creative Kate. She then decided to proceed on with her own entrepreneurial ideas.
Kate along with her husband, Andy then decided to venture onto designing and selling handbags, a style that would be sophisticated yet chic, modern yet subtle, a set of truly classic timeless designs. Thus, in 1992, she embarked on this dream and quit her job, invested her savings and started designing. The line debuted in 1993 and was a huge success. Kate Spade opened her first boutique in Soho, Manhattan.
In 1997, the brand went international signing an agreement with Itochu fashion system and Sanei International, opening up 29 in store layouts in Japan. In 1999, Kate Spade sold 56% of the shares of her company to Neiman Marcus for $33.6 million, while she continued to head the creative team. In the 2000s, Kate had 5 stores to her name, 3 each in New York, Boston and California. She went on expanding her brand to include eyewear and home goods. In 2002, Kate decided to hone her writing skills with the release of her three books on fashion and style.
Kate Spade launched her home goods brand “Kate Spade at home”. Kate Spade sold off her share in her brand in 2006 and launched “Frances Valentine” with her husband Andy Spade. The brand like her former, focuses on handbags and apparel suited for the women. Her maiden company has grown incredibly ever since its launch in 1993, with over 140 stores in USA and 175 stores internationally.
Awards and Achievements
Awarded “America’s New Fashion Talent in Accessories” by the Council of Fashion Designers of America in 1996.
Awarded “Best Accessory Designer of the Year”. by the Council of Fashion Designers of America in 1998.
Honoured at the Cooper Hewitt Museum for exhibiting her designs in 1999.
Awarded “Giants of Design Award for Tastemaker” by House Beautiful in 2004.
Awarded “American Food and Entertaining Award for Designer of the Year” by Bon Appetit in 2004.
Awarded “Elle Decor International Design Award for Bedding” by Elle Decor in 2004.
Honoured at the Entrepreneur Hall of Fame at the Henry W. Bloch School of Management at the University of Missouri, Kansas City.
Ranked as one of the Most Creative People in Business by Fast Company in 2017.
Net Worth of Kate Spade
Kate Spade has been extremely successful in launching her venture into a billion dollar company. The label has seen a meteoric rise ever since its humble debut. With over 450 stores worldwide, the brand continues to be a huge success. Her current net worth is $250 million.
Kate Spade has proven herself to be a true fashion and business magnate. The success of her label has helped her in establishing herself as a household brand and name. With her designs she has brought forth the true essence of her passion, conviction as well as herself to the world.