Kate Spade LLC said Wednesday that it bought out its Japanese joint venture partner.
The Fifth & Pacific Cos. Inc.-owned Kate Spade acquired the 51 percent interest held by KSJ Co. Ltd., a subsidiary of Sanei International Co. Ltd. The purchase price for the Kate Spade Japan buyout, including debt repayment, related transaction fees and use of Kate Spade Japan’s cash on hand, totaled $47.6 million.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"