SPADE’S ON A ROLL, EXPANDS ITS PLAN
Byline: David Moin
NEW YORK — Kate Spade is on a retail drive.
The trendy handbag and accessories line, known for simple but chic handbags, said Tuesday it will open two stores in October, at the Americana luxury shopping center in Manhasset, N.Y., and in San Francisco.
That’s on top of the two openings previously announced, in Greenwich, Conn., next month and Chicago in July. Ten other cities are being scouted, according to Andy Spade, chief executive officer of Kate Spade.
“We could open another four stores next year, if we find the right sites,” he said. “We’re looking for interesting architecture, but our strategy is to take it slow.”
The 2,000-square-foot San Francisco boutique will be at 207 Grant Avenue in the Shreve & Co. building, between Market Street and the Chinatown Gate. Built in 1905, it has a balcony that Spade plans to restore for additional selling space.
The 1,950-square-foot Americana unit, at 2030 Northern Boulevard, Manhasset, has a choice spot between Barneys New York and Fendi.
Other upcoming stores will be at 271 Greenwich Avenue in Greenwich and at 101 East Oak Street in Chicago on the site of a former Versace store. Spade currently operates five stores: Kate Spade, Kate Spade Paper and Jack Spade units in Manhattan, and Kate Spade handbag stores in Boston and Beverly Hills.
“As we expand our retail presence we are focused on finding unique spaces in the heart of areas where our best customers live,” said Spade, the husband of designer Kate Spade.
Kate Spade started her business in 1993 with six classic shapes that are still in the line. Her following crosses a wide age range, and her label has fast become popular. The company, 56 percent owned by the Neiman Marcus Group, projects sales in excess of $60 million in 2000. “We make the decisions on cities and sites, but we obviously talk about it with our partners,” Spade said.
In addition to handbags, the collection includes stationery, shoes, pajamas, luggage, scarves and gloves. Last November, Spade signed a license agreement with The Estee Lauder Companies Inc. to produce a line of beauty products.