Liz Buys Kate
New York–based manufacturing giant Liz Claiborne Inc. bought Kate Spade LLC for approximately $124 million. New York–based Kate Spade produces women’s and men’s accessories under the Kate Spade and Jack Spade labels. The company sells its lines in high-end department stores such as Neiman Marcus, Saks Fifth Avenue, Nordstrom, and Bloomingdale’s, as well as in 19 Kate Spade boutiques, one Jack Spade store and four Kate Spade outlet stores. The company has licensing agreements for shoes, eyewear, home deacute;cor and gifts.
