Kate and Andy Spade to Leave Company

Kate and Andy Spade to Leave Company
July 31, 2007

Husband-and-wife team Kate and Andy Spade announced plans to resign as head designer and CEO of New York-based luxury brand Kate Spade, according to Fashionwiredaily.com. The couples' resignation from the company, which they founded in 1993, comes with the expiration of a six-month term in which the Spades agreed to remain with the company for a transition period following the $124 million purchase of Kate Spade by Liz Claiborne Inc. in November 2006. Both Kate and Andy Spade will remain on the company's board of directors. Kate Spade has 19 retail locations, along with four outlet stores and one Jack Spade specialty store. The company has expanded from offering signature handbags, to stationary, shoes, eyewear, luggage, baby products and small leather goods.

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