We are in the beauty industry and as artists who are also business professionals, we pay close attention to our sister industry, fashion!
We were very interested to hear that handbag maker Coach bought out Kate Spade. Kate Spade has always been popular among all ages. The high-end brand is sold everywhere from individual stores to Nordstrom Rack making it more available than some other designer brands. Millennials especially took a liking to Kate Spade with About 60 percent of their customers in the millennial age group. This is helping make Kate Spade the “middle class” brand.
With such success, the sale of the company came as a surprise to most of us from the outside looking in!
Coach hopes this acquirement will boost sales. We all known Coach’s popularity has fallen in the past years. Will this turn-around strategy for Coach ruin Kate Spade? Or will the Kate Spade momentum put Coach back on top? Only time will tell and we will be paying attention for sure!
And, here’s a fun fact: Kate Spade is the sister-in-law of comedian (and Scottsdale High alum) David Spade!
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