The company Coach (now known as Tapestry) bought the brand in 2017 for $2.4 billion. bought it for $125 million from the Neiman Marcus Group, the Associated Press reported. Spade left her company in 2007, after then-Liz Claiborne Inc. “She looked for the right people who fit with the culture and fostered an environment where people wanted to stay with the company.” “She had a combination of family and non-relative professionals who helped to move the organization forward and Kate paid close attention to both the U.S. Hartman said the other thing that Spade did to ensure her success was assemble a really good team. She told the New York Times in 1999 that she wanted “a functional bag that was sophisticated and had some style.” In an interview with the Toronto Star, she said she wanted her company “to be like a fashion version of L.L. “She wasn't going for the $3,000 bag, but she still wanted something that looked good, that was clearly fashionable.” “I think she had a terrific sense of what women wanted, so she knew her customer base and had a good sense of what they wanted more than what they needed,” Hartman said.
Hartman, whose teachings include leadership and working in teams, said Spade was playful and creative at heart, and her brand reflected those qualities. She was in a great place in terms of her career, said MIT Sloan senior lecturer in managerial communication Neal Hartman, and she took a risk to start her own handbag line. In 1993 Spade was an accessories editor for Mademoiselle magazine when she started her handbag company with husband. Those who studied her career are certain of the entrepreneurial legacy she left behind. When Kate Spade, her name eponymous with the working woman’s handbag, died this month at 55, the news was a blow to the fashion and corporate worlds.
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