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
The Private Aviation Corridor Report 2026: The 25 Flight Paths of Global Wealth
Haute Jets × 5W AI Communications · Volume IV The Private Aviation Corridor Report 2026 The 25 flight paths of global wealth By Seth Semilof · In partnership with 5W AI Communications · Published July 2026 Airports Are Ranked. Operators Are Ranked. Corridors Are Not. Every year, the private aviation industry publishes the same scorecard: […]
The 10 Best Bars in Miami for Summer 2026
Miami’s bar scene has grown well past its rooftop-pool reputation, and summer is when it proves it. The city has spent the last several years building something more layered: world-class cocktail programs with genuine ambition, hotel bars that command a dress code, rooftop lounges where the view matches the occasion, and a handful of hidden […]
The Best Luxury Watch Brands to Know in 2026
From Patek Philippe’s Nautilus anniversary to Richard Mille’s Colnago tourbillon, these are the best luxury watch brands.
The Best Restaurants in Los Angeles Right Now
From Somni’s Michelin-star counter to Baldi’s at the Waldorf Astoria, these are the best restaurants in Los Angeles right now.
The 15 Best Restaurants in Miami Right Now
From Gaia to Slim’s old-Hollywood steakhouse glamour, these are the 10 best restaurants in Miami worth reserving.
Elevating Luxury Homes with Smart Nature Integration: The Art of AI-Powered Bird Watching
Discover how AI-powered bird watching is transforming luxury homes. Explore the elegance of smart nature integration with a luxury bird feeder with AI and the Birdfy smart feeder
Latest Stories
Trending Articles
Related Articles
The Private Aviation Corridor Report 2026: The 25 Flight Paths of Global Wealth
Haute Jets × 5W AI Communications · Volume IV The Private Aviation Corridor Report 2026 The 25 flight paths of global wealth By Seth Semilof · In partnership with 5W AI Communications · Published July 2026 Airports Are Ranked. Operators Are Ranked. Corridors Are Not. Every year, the private aviation industry publishes the same scorecard: […]
The 10 Best Bars in Miami for Summer 2026
Miami’s bar scene has grown well past its rooftop-pool reputation, and summer is when it proves it. The city has spent the last several years building something more layered: world-class cocktail programs with genuine ambition, hotel bars that command a dress code, rooftop lounges where the view matches the occasion, and a handful of hidden […]
The Best Luxury Watch Brands to Know in 2026
From Patek Philippe’s Nautilus anniversary to Richard Mille’s Colnago tourbillon, these are the best luxury watch brands.
The Best Restaurants in Los Angeles Right Now
From Somni’s Michelin-star counter to Baldi’s at the Waldorf Astoria, these are the best restaurants in Los Angeles right now.
The 15 Best Restaurants in Miami Right Now
From Gaia to Slim’s old-Hollywood steakhouse glamour, these are the 10 best restaurants in Miami worth reserving.
Elevating Luxury Homes with Smart Nature Integration: The Art of AI-Powered Bird Watching
Discover how AI-powered bird watching is transforming luxury homes. Explore the elegance of smart nature integration with a luxury bird feeder with AI and the Birdfy smart feeder
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