Kate Spade Net Worth: Know about her earnings,designs, handbags,wallet, husband, family

Kate Spade was an American fashion designer and businesswoman who had amassed an estimated net worth of around $150 million. Kate Spade founded a business empire of her own that is speculated to be worth around $2.2 billion dollars. 

Income Sources and Assets of Kate Spade

Kate Spade was a trendsetting designer who was primarily known for her handbags. Spade’s handbags were popular among woman of all ages and her fashion line included eye-popping clothing, jewelry, shoes, and fragrances. Spade raked in an impressive net income of $153.6 million during 2016 alone. 

Career and Achievements of Kate Spade

Kate Spade began her career by working at the accessories department at Mademoiselle Magazine in Manhattan. Spade was promoted to the position of Senior Fashion Editor/Head of Accessories but left the magazine in 1991. Kate Spade partnered with her then-boyfriend Andy Spade to launch a line of handbags called “kate spade handbags”. Spade had designed six prototype models for the line and pursued a manufacturer in East New York to finance her business. Andy Spade withdrew his pension plan to fund the brand. The bags made a splash at New York’s rich fashion scene. The easily affordable bags (the bags ranged from $150 to $450 in price) became extremely popular with New York teenagers who loved the balance of chic and sophistication of the bags. Anna Wintour, the chief editor of Vogue and a fashion icon, said in an interview that it was impossible to go around New York and not see one Kate Spade bag in every block.

The massive success of the handbags prompted Kate Spade to expand her fashion line to include other fashionable items like clothing, jewelry, shoes, eyewear, and gifts. The brand also opened a boutique in New York’s trendy SoHo district. By 2004, Kate Spade had launched “Kate Spade at home”, a home collection brand that included Spade’s signature style blended in various housing items like bedding and wallpaper. Kate Spade also went international in 2004, opening its first store in the Aoyama part of Tokyo. The highly popular brand was sold to Neiman Marcus Group partly in 1999 and fully in 2006. The label was sold for $124 million dollars to Liz Aliborne Inc. which was later purchased by Coach, Inc.

After focusing on her private life following the sale of the Kate Spade brand, Andy and Kate returned to the fashion industry in 2016. They opened a collection of luxury footwear and handbags and named it Frances Valentine, an amalgamation of Kate’s paternal and maternal namesakes.

Throughout her prolific career, Kate Spade has received multiple awards including the CFDA honor of “America’s New Fashion Talent in Accessories” in 1996. CFD also named Kate Spade the “Best Accessory Designer of the Year” in 1998. Spade was also named one of the most creative business people by Fast Company in 2017.

Personal Life of Kate Spade

Kate Spade met Andy Spade while working at a men’s clothing store in Pheonix. The couple married in 1994 and had a daughter together. Kate is related to actor David Spade from her husband’s side and is the aunt of actress Rachel Brosnahan.

Kate Spade was revealed to have been suffering from depression after she was found to have hanged herself to death in her Manhattan apartment on June 5, 2018.