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On Tuesday, June 5 designer Kate Spade died from suicide. The news that the 55-year-old designer was dead shocked fans and fashionistas. Since her passing fans have been buying everything from her most recent accessories line Frances Valentine.
Scrolling through the “New Arrivals” page you will be hard pressed to find anything that isn’t sold out because everything is sold out. The only thing you can do is place a pre-order for some cute geometric metallic sandals.
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Fans are flocking to the online store because these are the last bags, shoes, jewelry and other accessories that Spade will ever design. The company has posted two Instagram’s since Kate’s passing. “We are deeply saddened by the loss of our dear friend and founder, Kate Valentine Spade, who will remain in our hearts forever,” they shared.
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The brand most people associate Kate with is her namesake brand, Kate Spade. Kate and her husband Andy Spade started the company in their loft in 1993. In two years their profit jumped from $100,000 to $1.5 million. Three years later sales jumped to $27 million according to Racked.
In 1999 the Spades sold over half of their shares, 56% to be exact, to Neiman Marcus for $33.6 million. In 2006 they sold their remaining shared to Neiman Marcus for roughly $59 million.
In 2007 they were officially not involved with Kate Spade. Neiman Marcus sold the company a week later to Liz Claiborne for $124 million. Liz Claiborne renamed itself Fifth & Pacific and then renamed itself Kate Spade & Company after it sold off its other brands. In 2017 Coach (which is now known as Tapestry) bought the brand for $2.4 billion. The spades made no money off this sale because they weren’t involved in the company.
In 2015 Kate lanched Frances Valentine another accessories line. The name is a combination of her daughter’s name and her maternal grandmother’s name. In 2016 Kate changed her surname from Spade to Valentine to further associate herself with the brand. She was legally not allowed to use her previous name, Kate Spade in any business.
True Kate fans are clearing the online shelves of Frances Valentine so they can get their hands on some Kate Spade/Valentine originals.
