Kate Spade is officially crushing it, a heartening sign considering that the label is now the foremost focus of its parent company, the recently renamed Kate Spade & Company. The ladylike New York brand raked in $217 million in net sales in the first quarter of 2014, a 54 percent jump from the year prior.
The company has gone through a few major changes in the last months, selling off Juicy Couture and Lucky Brand, bringing in new management and buying out the Kate Spade businesses operated by Globalluxe in Southeast Asia for $32 million.
It now directly owns and operates its stores in Hong Kong, Macau and Taiwan and works with a new partner, Valiram, in Singapore, Malaysia and Indonesia. At this point, Kate Spade is operating 127 retail stores, 52 outlet stores and 46 concessions.
It seems that Kate Spade has found its footing, and it's doing so at a good time. Michael Kors, which has paved the way for other designer brands with a more accessible price point and aesthetic like Kate Spade and Coach, was just named the "most promising" luxury company in terms of future growth. Now that the brand is the singular focus of its parent company, we're excited to see what it can do in the coming year.