Kate Spade news and archive

Tapestry's Capri Holdings acquisition faces FTC opposition

The fate of Capri Holdings, the parent company of Michael Kors, is on hold following an ongoing Federal Trade Commission (FTC) lawsuit challenging Tapestry's proposed 8.5 billion dollar acquisition of the group. According to the FTC, the merger of the Coach and Kate Spade brands, owned by the multinational holding company Tapestry, with Michael...

ManagementFeatured

Coach parent Tapestry's Q4 earnings beat analysts' expectations

Tapestry, owner of Coach, Kate Spade, and Stuart Weitzman brands reported net income of 217 million dollars, with earnings per diluted share of 92 cents. Analysts surveyed by Bloomberg expected the company to report earnings per share of 88 cents. The company's net sales of 1.59 billion dollars, declined by 2 percent on a reported basis for the...

Report

Tapestry hires Eva Erdmann to take over as CEO of Kate Spade brand

Tapestry has appointed Eva Erdmann as CEO & brand president of Kate Spade. Erdmann, the company said in a release, will join the brand in October, succeeding Liz Fraser, who is leaving the business in September. Upon her arrival, Erdmann will report directly to Joanne Crevoiserat, chief executive officer of Tapestry, Inc. and will become a...

Retail

Kate Spade New York opens first dedicated jewellery store in London

Padding Square Shopping Centre is now home to the first-ever standalone jewellery store of premium brand Kate Spade New York, which has taken to the newly opened London shopping destination with a freshly created store design. While integrating the brand’s signature colour palette of “Kate Spade green”, which contrasts with black and cream hues,...

Fashion |In Pictures

Kate Spade unveils Heinz capsule collection

American fashion brand Kate Spade New York has unveiled a red-hot capsule collection in collaboration with food giant Heinz. The limited-edition Heinz x Kate Spade collection draws inspiration from both brands’ signature DNA, combining Heinz’s iconography and unmistakable ketchup red colour and Kate Spade’s colourful and joyful styles. The...

Report

Coach parent Tapestry posts Q3 revenues of 1.48 billion dollars

Tapestry’s third quarter net sales declined 2 percent to 1.48 billion dollars. Gross profit totaled 1.11 billion dollars, while gross margin was 74.7 percent. For fiscal 2024, the company forecasts revenue of over 6.6 billion dollars, approximately in-line with prior year on a reported basis and representing growth of approximately 1 percent on...

Report

Tapestry responds to FTC's lawsuit blocking acquisition of Capri Holdings

The Federal Trade Commission (FTC) has sued to block Tapestry’s 8.5 billion dollars acquisition of Capri Holdings Limited, a deal that seeks to combine three close competitors – Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand. The Commission issued an administrative complaint and authorised a lawsuit in federal court to...

Retail |In Pictures

Kate Spade New York debuts café concept in Dubai

American fashion brand Kate Spade New York has debuted its first-ever global café concept within Bloomingdale’s at Dubai Mall. The café concept has been designed to bring to life Kate Spade New York’s signature brand codes while offering customers an enhanced lifestyle experience with a menu featuring drinks and branded treats. Open until June...

Report

Tapestry raises profit guidance on strong Q2

Tapestry’s net sales in the second quarter totaled 2.08 billion dollars, representing growth of 3 percent on both a reported and constant currency basis. Gross profit totaled 1.49 billion dollars, while gross margin was 71.6 percent, net income was 322 million dollars and earnings per diluted share were 1.39 dollars. On a non-GAAP basis, net...

Fashion |In Pictures

Kate Spade unveils 10-metre Christmas tree in London

Kate Spade New York has unveiled a Christmas tree in the heart of Waterloo train station in London. The 10-metre-high installation has been crafted using giant branded gift-wrapped boxes in Kate Spade’s signature green hue, reminiscent of a traditional tree and incorporating the accessory brand’s “joyful, seasonal brand accents, like spots and...

ManagementFeatured

Coach parent Tapestry posts increase in Q4 profit, sales remain flat

Coach owner Tapestry has reported widening profit in the fourth quarter despite its sales remaining flat. The group, which last week announced plans to acquire rival US fashion giant Capri Holdings, made a net profit of 224 million dollars in the three months ended July 1, up from 189 million dollars a year earlier. Sales in the fourth quarter...

Fashion |Beauty

Kate Spade launches beauty collaboration with Clinique

Prestige beauty brand Clinique has unveiled its first-ever collaboration with fashion and lifestyle designer brand Kate Spade New York. The playful collaboration combines Kate Spade’s vibrant patterns, including springtime florals, stripes, kisses, and graphic polka dots with a collection of Clinique's best-selling ‘Pop Plush’ creamy lip...