Who is Kate Spade?
Kate Spade is one of the most familiar faces in the world of fashion designing. She is recognized as an icon for upcoming and existing fashion designers and businesswomen in America.
She was the co-founder and past co-owner of the fashion brand Kate Spade New York. Actually, she is most well-known for her own designed handbags and clothes. This amazing lady was the owner of approximately $200 million dollars at the time of her death.
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How much is Kate Spade's net worth?
As of July 2020, Kate Spade’s net worth is reported at $300 million dollars.
What is the mystery of her wealth?
Mainly Kate Spade earned the majority portion of her revenues from her self-owned fashion designing brand Kate Spade New Work. Besides, her real estate possessions also enhanced the monetary amounts.
Some Basic Details about Kate Spade
- Kate Spade’s birth name was Katherine Noel Valentine Brosnahan.
- People know her as Kate Spade.
- She was born on 24 December 1962.
- Her birthplace was Kansas City, Missouri, U.S.
- By nationality, she was an American.
- Irish was her ethnicity.
- She was a fashion designer and entrepreneur.
- She also was an author of three books like Manners, Occasions and style.
- She was dead on 5 June 2018 at New York City, U.S. in her own house.
- She committed suicide at the age of 55 years.
Kate Spade's Early Life
Kate was born in a business family on twenty-fourth December 1962. Her father, Earl Francis Brosnahan, was a construction company owner. Her mother, June Brosnahan, was a housewife. She passed her early ages in Kansas City, Missouri. She belonged to the Baby Boomers Generation.
Educational Background of Kate Spade
After completing the studies at St. Teresa’s Academy, she attended the University of Kansas. Later, she moved to Arizona State University and completed her graduation from there in 1986. Her major subject was Journalism. Besides, with a view to working in the television industry, Kate also enrolled in Kappa Kappa Gamma Sorority.
Kate Spade and Her Married Life
She was married to Andy Spade in 1994. Andy was also her business partner. They have a daughter named Frances Beatrix Spade(born in February 2005). However, staying about 23 years together, Kate started to live in separation only a few months before her death.
Starting Career in Magazine
After graduating in Journalism, Kate went to New York City. There she started to work in a magazine called Mademoiselle. Showing her dedication and skilful performance, soon she rose to the post of senior fashion editor and head of accessories. She spent five years with this journal.
Starting a Career in Fashion Designing
While working with the magazine, she felt some imperfections in the designs of many branded luxury handbags. As she was interested in fashion designing from college life, she started to make some unique models of handbags from 1991, getting inspiration from her former boyfriend(later husband).
At last in 1993, Kate Spade launched her own line of handbags with the brand Kate Spade New York. Andy invested $35,000 for this company.
The characteristics of her bags and purses are bright, colourful, stylish. Also, fulfil the main functional objectives. Moreover, their prices are within the ability of the wider group of people.
However, Kate and Andy sacrificed a lot and took all the challenges to establish the brand among the top brands of America.
Gradually, the company opened its own retail shops as well as started to sell products via various famous shops such as Saks Fifth Avenue and Bloomingdale’s. Soon the company launched other lines of products like apparels, accessories, shoes, stationeries, paper goods etc.
However, Kate and Andy sold 56% of their business to the Neiman Marcus Group in 1999. But remained in touch with the brand to spread its market worldwide. At last, they took off the remaining percentage of their holdings in 2006 and stayed away from the business activities to look after the newborn daughter.
Again Katy made her come back in the fashion world with a new brand called Frances Valentine. The main product categories of this brand were footwears and handbags.
Kate also had a home collection brand named “Kate Spade at home.”
Awards and Achievements of Kate Spade
During her life, she received many awards as the recognition for great jobs in both the fashion and business world. Some of them are
Awards and Achievements
Year of Getting Awards or Accomplishments
America's New Fashion Talent in Accessories
Best Accessory Designer of the Year
Giants of Design Award for Tastemaker
American Food and Entertaining Award for Designer of the Year
Elle Decor International Design Award for Bedding
One of the Most Creative People in Business
Kate Spade's Tragic Death
On 5 June 2018, Kate killed herself by hanging in her Manhattan apartment. She wrote a letter to his daughter before committing suicide.
” This has nothing to do with you. Don’t feel guilty. Ask your Dad.”