How much was Kate Spade worth?
| Net Worth: | $200 Million |
|---|---|
| Profession: | Professional Fashion Designer |
| Date of Birth: | December 24, 1962 |
| Country: | United States of America |
| Height: | 1.57 m |
About Kate Spade
Kate Spade was an unlikely success in an industry often dominated by rich socialites and the privileged. She attended an all-girls high school and later Arizona State University, when she majored in Journalism. Her first run-in with the world of high fashion had her working in the accessories department for Mademoiselle magazine in Manhattan. Her father, Frank, was the owner of a road-construction company, and her mother, June, was a housewife. While Kate had previously worked at the Phoenix clothing store Carter’s Men Shop, it was when she moved to Manhattan that she would find her drive and pursue her passion.
After five years working for for Mademoiselle magazine, Spade was promoted to Senior Fashion Editor and Head of Accessories. Kate soon perceived as a gap in the handbag market, and without much ado, she began designing her own simple, elegant product to fill the void. Meeting with some small success she left the magazine in 1991. Having started a relationship with Andy Spade, who she had met while working side by side together Carter’s Men Shop in Phoenix, they arranged to be married and dropping her maiden name “Brosnahan” she founded the company and brand, Kate Spade Handbags.
She marketed her brand of accessories in New York City and the handbag company rose to prominence. By 1996, Spade was named “America’s New Fashion Talent in Accessories” by the Council of Fashion Designers in America. In 1998, she was recognized by the same organization as “Best Accessory Designer of the Year.” As she began to extend her offerings, Kate introduced an array of items from stationery to perfume to pajamas. Her collections extended further in 2004, when the prolific designer launched home offerings that included china, bedding, bath products and even wallpaper.
An American success story, and one that did not go unnoticed as Spade was still such a young designer compared with many of the 20th-century giants of the fashion industry. By 2006, company revenues were close to $100 million. That same year, Neiman Marcus Group allegedly bought out Kate’s 44% shares. They later sold Kate Spade New York to Liz Claiborne Inc. for $124 million, then in 2017, Coach, Inc. bought the company for $2.4 billion.
In her personal life, Kate had been suffering from depression and anxiety. She had separated from her husband Andy Spade in early 2018, and by June that same year, Kate was found dead by a housekeeper in her apartment in Manhattan. Her death was ruled a suicide by hanging.
