News | March 19, 2013

CEO Craig Leavitt Sees $4 Billion Future for Kate Spade

News | March 19, 2013

By Jennifer Kamm

The New York CEO of Kate Spade, Craig Leavitt, is ready for the New-York based company to enter the billionaires club. According to Fashion Week Daily, Leavitt recently attended an investment meeting where he told analysts that he expects brand sales to hit the $2 billion mark over the next four years and eventually reach $4 billion. The company, which recently expanded into home goods, grossed $461.9 million in sales last year.

Though small leather goods make up 70 percent of the business, some experts believe that the expansion into home goods could put the brand in the same category as mega retailers like J.Crew. As Kate Spade continues to expand internationally, Leavitt said that he sees the company becoming increasingly more of a lifestyle brand with new categories in the vein of Ralph Lauren.