Fans of designer handbags knew Kate Spade for her chic, colorful and utilitarian styles. Sadly, she died by apparent suicide in 2018. In May 2022, beauty salon company Ulta Beauty made a serious mistake in an email regarding Spade, reminding design enthusiasts of her death. So what was Kate Spade’s net worth when she died? Here is all you need to know.
Ulta’s Email About Kate Spade Makes Fans Remember Her Death
Kate Spade died by apparent suicide in 2018. TMZ reports that the housekeeper has found the designer, according to the NYPD Chief of Detectives. Spade was 55 and had owned designer boutiques in New York since 1996.
In May 2022, Ulta Beauty made a major mistake in an email promoting Kate Spade New York fragrance. “Ulta Beauty recently sent an email featuring Kate Spade New York fragrance with an insensitive subject line, and for that, we sincerely apologize,” a rep for Ulta told TMZ. “Mental health is a very serious and important issue in this country, and we would never take it lightly. We apologize to the Spade family, our Kate Spade New York brand partners and our guests. Thank you for your understanding as we strive to do better.
Kate Spade’s net worth at the time of her death
According to Celebrity Net Worth, Kate Spade’s net worth at the time of her death was $200 million.
So how did she achieve fortune? According to City & Country, Spade didn’t feel inspired by the handbag market in 1991, and her boyfriend at the time, Andy Spade, encouraged her to design her own bags. In 1993, the couple formed Kate Spade & Co. with just $35,000. Spade got to work creating her signature bags, many of which were inspired by the bags her mother owned.
While Spade will forever be known for her incredible handbags, she has grown her brand to include homewares, shoes, paper goods and accessories.
Town & Country notes that Spade’s company income reached $1.5 million in 1995. In 1996, the couple opened Kate Spade New York and reported income of $6 million. Two years later, Spade also opened stores in Japan and Los Angeles for even bigger sales. Then, in 1999, Neiman Marcus bought 56% of Kate Spade New York for $33.6 million.
Who owns the Kate Spade brand now?
So, who owns the Kate Spade brand in 2022? According to Business Intern, Spade sold the rest of the business to Neiman Marcus in 2006. Neiman Marcus then sold Kate Spade New York to Liz Claiborne for around $124 million. In 2007 Kate and Andy Spade left the company as designer and CEO. Today, the Kate Spade brand is now owned by Tapestry. Tapesty owns Coach and has also purchased Liz Claiborne.
In 2016, Kate Spade reappeared as Kate Valentine Spade. According to PeopleShe and Andy Spade launched their accessories line, Frances Valentine, that year, and she wanted to differentiate herself from her former brand. When it came to running her former handbag business, she told People she didn’t miss it.
“I needed a break and really wanted to raise my daughter,” she said. “People asked me, ‘Don’t you miss it?’ I really didn’t. I mean, I loved what I was doing, but I didn’t miss it as much as I thought.
How to get help: In the United States, call National Suicide Prevention Lifeline at 1-800-273-8255. Or text HOME to 741-741 to speak with a trained crisis counselor on the toll-free number Crisis text line.
To verify Showbiz Cheat Sheet on Facebook!
RELATED: What Was Gilbert Gottfried’s Net Worth At The Time Of His Death?