Tapestry Inc fashion house Kate Spade New York recently announced a major shakeup within the company. Nicola Glass, the creative director who was hired three years ago, will be leaving in April. This decision comes as the brand strives to revitalize itself and combat declining sales.
Kate Spade brought Glass on board with the hopes of injecting fresh creativity and attracting more customers to its designs. However, the brand has faced a significant decrease in sales in six of the past nine quarters, and the ongoing COVID-19 pandemic has further added to its challenges.
To inject new life into the brand, Kate Spade has created two new positions within the company. Kristen Naiman, a longstanding executive, has been appointed as the senior vice president of brand concept and strategy. This move aims to realign the brand with the changing needs and desires of its customers.
Liz Fraser, the CEO and brand president of Kate Spade, is optimistic about the changes being made. She believes that the brand needs to modernize its processes and approach to better serve its customers. The focus will now be on collaboration and ensuring every interaction with customers provides clarity and cohesion.
Furthermore, Kate Spade is actively searching for a new head of product design. This move is geared towards introducing fresh and innovative products, including handbags, jewelry, and footwear. By offering customers exciting new options that align with current trends and preferences, the brand hopes to regain its prominence in the industry.
The future of Kate Spade remains uncertain, as it faces a challenging retail environment. However, with the right leadership and a focus on innovation, the brand has the potential to reclaim its position as a leading fashion brand. Only time will tell if these efforts will pay off and bring about a successful turnaround for the iconic brand.
Useful links:
1. Kate Spade Official Website
2. Business of Fashion: Kate Spade
