Kate Spade Essay

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Kate Spade, founded by Kate Spade and Andy Spade on January 1993, is an American fashion design corporation for clothing, handbags, jewelry, and other accessories. Currently, the organization had been in a competition with Coach Inc. and Michael Kors since its establishment. However, Kate Spade demonstrated the key elements of critical thinking necessary to turn risk into opportunities, which ultimately resulted in organizational success in the fashion industry.
[ I ] Prior to its establishment, from 1986 to 1991, Kate Spade was formerly known as Katherine Noel Brosnahan before her marriage with Andy Spade, and during this time while working at Mademoiselle Magazine, she noticed that women’s fashion accessories lacked practicality and style. This conclusion led her to the idea to develop handbags that were fashionable, but
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In 2006, they and their partners sold their remaining 44 percent to Neiman Marcus, an American luxury department store. This was essential due to the fact that with this action, Kate Spade products earned its brand name to be associated to high-ranking values. Later during this same year, Trudy Sullivan, president of Liz Claireborne Inc., acquired that share of Kate Spade from Neiman Marcus. Consequently, a new strategic plan was implemented which served the purpose to expand Kate Spade with approximately 200 boutique shops both domestically and internationally. This trend is observed to be a strategic alliance, because multiple organizations, in this case Neiman-Marcus and Claireborne Inc., co-operated into a partnership in sense of the goal of pursuing an area of mutual interest. All three companies are related to fashion design, so the conclusion is that the entrepreneurs of Kate Spade had the intention to achieve business success through co-operation with the right strategic

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