Kate Spade news and archive

Tapestry Q1 ‘outperforms expectations’, ups fiscal 2025 outlook

Coach-owner Tapestry “outperformed expectations” for the first quarter of the year, according to CEO Joanne Crevoiserat, who said the results showcased “the brand magic and operational excellence that fuel our strategic growth agenda”. For the quarter ended September 28, 2024, the company’s net sales totaled 1.51 billion dollars, in-line with...

BusinessFeatured

Tapestry x Capri merger blocked: What does this mean for the ‘accessible’ fashion market?

On Thursday, October 24, a US judge opted to block Tapestry’s attempt to buy competitor Capri Holdings, with “loss of head-to-head competition” cited as the reasoning. The case, first brought forward in a lawsuit by the Federal Trade Commission (FTC), became high profile due to its involvement of notable executives and the fact that the merger...

BusinessFeatured

US court blocks Coach owner's 8.5 billion dollar buyout of Versace parent

A US judge on Thursday blocked fashion group Tapestry's 8.5 billion dollar deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition. The deal, seen as an attempt to create a new global fashion giant to compete with European powerhouses, was halted by a federal court in New York after...

Fashion

Kate Spade and M&M's launch a special, limited-edition collection

Lifestyle brand Kate Spade New York has partnered with iconic candy brand M&M’s to create a special limited edition capsule collection. Inspired by the worlds of candy and fashion, the M&M’S x Kate Spade New York capsule collection features handbags, jewelry, and accessories that combine design elements from both brands. "Kate Spade New York has...

Business

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...

BusinessFeatured

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...

People

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...

Business

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...

Business

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...