Kate Spade Saturday to Shut Down All Stores
Despite a fun collaboration with New Balance to develop and design bright cross trainers for the ultimate gym to street transition, Kate Spade Saturday—Kate Spade’s lower priced brand—will shutter all of its 19 stores, including the location inside in Pru. Jack Spade, a menswear line that has been in business since 1996, will also close all stores, including its Newbury Street location.
Kate Spade & Company, the parent company behind the labels, released a statement saying that they plan to focus on the Kate Spade label—alone. “A key tenet of our road map for growth is ensuring that we are disciplined and forward-looking with our investments, putting our resources behind targeted initiatives that will maximize profitability and shareholder value in the near, mid and long term,” said Craig A. Leavitt, CEO of Kate Spade & Company, in a statement.
This statement is business-speak for: We’re consolidating all of our brands in order to focus on the moneymaker.
Now, if you’re feeling like a bit of a chump for ordering the Kate Spade Saturday/New Balance collaboration (like me) fear not! We can still expect our sneakers to arrive soon if you ordered early, and the Saturday brand isn’t going away completely. The label will still operate online through the first few months of 2015, and some items will be available in Kate Spade stores.
“We now have a better understanding of our customers’ weekend style, thanks to the hard work and contributions from the members of our Kate Spade Saturday family who developed commercially appealing products and attracted new customers through the Kate Spade Saturday business,” Leavitt said in the statement. “We are excited to apply these learnings to the Kate Spade New York collection.”
As for Jack Spade, all stores will also close in the next few months, but, like Saturday, the label is not shutting down completely. It will move to an “e-commerce business model,” which will be “complemented by distribution through its retail partners.” (Read: You will still be able to find it online and in select department stores.)