Kate Spade Shutters Beloved Stores To Bolster Luxury Sales
Photo Credit: thestorefront.com
Shares for designer brand Kate Spade rose more than 9 points on Thursday after the announcement that they would be closing all Kate Spade Saturday and Jack Spade brick-and-mortar stores — though the brands will both continue to live within other parts of the business.
In doing so, the company plans to consolidate its focus in order to build Kate Spade into a $4 billion brand.
“A key tenet of our road map for growth is ensuring that we are disciplined and forward-looking with our investments, putting our resources behind targeted initiatives that will maximize profitability,” CEO Craig Leavitt offered in explanation according to CNBC.
And they will have to maximize profitability if they hope to a projected 20% jump in sales for 2015.
“What’s encouraging is that we just saw them (Kate Spade) successfully sell products while pulling back promotions, in a holiday period when everyone has been calling out promotions,” analyst Simeon Siegel told Reuters.
Fans of the more casual Saturday brand can find some reprieve that the line will still be available on its e-commerce site for at least the first half of 2015.
Related Articles
Haute Brand Alert: With Nothing Underneath has Mastered the Art of Shirting
Inside With Nothing Underneath, Pip Durrell shares effortless shirt styling, British inspiration, and building a modern wardrobe staple.
Haute Living Takes The Carpet at Premio Lo Nuestro 2026
Miami shimmered with Latin music’s brightest stars as the 38th annual Premio Lo Nuestro delivered one of its most electrifying ceremonies to date, and Haute Living was on the ground for every moment of it. From exclusive red carpet interviews to coveted backstage access, our team captured the glamour, emotion, and history-making wins that defined […]
Velvet & Vice: A Toast to the Roasty, Rye-Forward Nocturne at Dandelion NYC
Discover Nocturne, the roasty, rye-forward cocktail at Dandelion New York, featuring hojicha, hazelnut-washed Michter’s Rye, and Cynar.
Haute Brand Drop: Siegelman Stables’ Pre-Spring Collection Has a Story to Tell
Siegelman Stables imagined an entire collection of knits, fleece, canvas outerwear, and accessories tied to the founder’s childhood home.
Dr. Bill Dorfman: The Smile Architect Trusted by Hollywood
Hollywood’s Smile King Dr. Bill Dorfman blends cosmetic dentistry, wellness, and entrepreneurship to help patients rediscover confidence.
Rosé all day? Try Rosé For Two Decades With Whispering Angel
On Wednesday evening, Whispering Angel marked its 20th anniversary in the most Miami way possible: with a candlelit fête at Villa Casuarina at The Versace Mansion that officially kicked off the 25th anniversary weekend of the South Beach Wine & Food Festival. Hosted by founder Sacha Lichine, the evening honored not just a bottle, but […]
Latest Stories
Trending Articles
Related Articles
Haute Brand Alert: With Nothing Underneath has Mastered the Art of Shirting
Inside With Nothing Underneath, Pip Durrell shares effortless shirt styling, British inspiration, and building a modern wardrobe staple.
Haute Living Takes The Carpet at Premio Lo Nuestro 2026
Miami shimmered with Latin music’s brightest stars as the 38th annual Premio Lo Nuestro delivered one of its most electrifying ceremonies to date, and Haute Living was on the ground for every moment of it. From exclusive red carpet interviews to coveted backstage access, our team captured the glamour, emotion, and history-making wins that defined […]
Velvet & Vice: A Toast to the Roasty, Rye-Forward Nocturne at Dandelion NYC
Discover Nocturne, the roasty, rye-forward cocktail at Dandelion New York, featuring hojicha, hazelnut-washed Michter’s Rye, and Cynar.
Haute Brand Drop: Siegelman Stables’ Pre-Spring Collection Has a Story to Tell
Siegelman Stables imagined an entire collection of knits, fleece, canvas outerwear, and accessories tied to the founder’s childhood home.
Dr. Bill Dorfman: The Smile Architect Trusted by Hollywood
Hollywood’s Smile King Dr. Bill Dorfman blends cosmetic dentistry, wellness, and entrepreneurship to help patients rediscover confidence.
Rosé all day? Try Rosé For Two Decades With Whispering Angel
On Wednesday evening, Whispering Angel marked its 20th anniversary in the most Miami way possible: with a candlelit fête at Villa Casuarina at The Versace Mansion that officially kicked off the 25th anniversary weekend of the South Beach Wine & Food Festival. Hosted by founder Sacha Lichine, the evening honored not just a bottle, but […]
Subscribe to Haute Living
Receive Our Magazine Directly at Your Doorstep
Embark on a journey of luxury and elegance with Haute Living magazine. Subscribe now and have every issue conveniently delivered to your home. Experience the pinnacle of lifestyle, culture, and sophistication through our pages.
Haute Black Membership
Your Gateway to Extraordinary Experiences
Join Haute Black and unlock access to the world's most prestigious luxury events