Kate Spade and her husband, Andy Spade, began building their iconic fashion empire in the ’90s.
Spade, a former accessories editor, started designing handbags in 1993, according to the brand’s website.
“Debuting with just six silhouettes, she combined sleek, utilitarian shapes and colorful palettes in an entirely new way,” the website says.
The first Kate Spade store opened in New York City in 1996.
Handbag giant Coach first announced plans to buy the company last year with a massive $2.4 billion deal. The parent company of Coach went on to spend nearly $3 billion to buy the Kate Spade clothing and handbag label and the Stuart Weitzman shoe brand.
But sales have been dropping this year: Same-store sales for Kate Spade plunged 9% in the first quarter because of a huge drop in online revenue.