Kate Spade Absorbs Saturday Line

Sometimes you need to take a step back in order to move forward. Kate Spade announced that it will be closing all 16 of their Kate Spade Saturday locations and absorbing the line into their Kate Spade stores. They will also be closing their Jack Spade outpost but the men's line will still be available online and stores like Bloomingdale's.

Kate Spade has joined forces with Walton Brown in order to expand their presence abroad in China. The newly formed partnership will leverage the expertise of Walton Brown, and the global demand for Kate Spade & Company products, to establish a strategic network of stores in key cities, enhanced by a robust organizational and marketing platform across China, Hong Kong, Macau and Taiwan.

Kate Spade's chief executive officer, Craig A. Leavitt, told WWD, "This is about focus. We have so much confidence in the long-term [future of] Kate Spade New York and a strong belief that it can be a $4 billion brand at retail. We are focusing our resources and our priorities in building the brand for the long term."

ABOUT KATE SPADE & COMPANY

Kate Spade & Company (NYSE: KATE) designs and markets accessories and apparel under two global, multichannel lifestyle brands: kate spade new york and Jack Spade. With collections spanning demographics, genders and geographies, the brands are intended to accent customers' interesting lives and inspire adventure at each turn. The Company also owns the Adelington Design Group, a Private brand jewelry design and development group that markets brands through department stores and serves JCPenney via exclusive supplier agreements for the Liz Claiborne and Monet jewelry lines. The Company also has a license for the Liz Claiborne New York brand, available at QVC, and Lizwear, which is distributed through the club store channel. Visit www.katespadeandcompany.com for more information.