Following the downfall of Piperlime, discerning shoppers with an eye for a bargain will no doubt be screaming “WHYYYYYYYY?!?” to the heavens* upon hearing the news that bosses at Kate Spade Co. are shutting down the company’s line of Kate Spade Saturday stores, as well as all Jack Spade men’s locations.
Kate Spade Saturday offered lower-priced items than the main brand, with 19 stores stores now set to close. A total of 12 Jack Spade men’s locations will join those stores in the dustbin, reports Bloomberg, with the company saying it’ll shut the stores down in the first half of this year.
Kate Spade Saturday will be folded into another brand, the New York-based company said in a statement. Closing the stores could cost the company as much as $39 million when all is said and done.
“The best path was to apply all the learnings from the Kate Spade Saturday brand and incorporate it into our Kate Spade New York brand,” Chief Executive Officer Craig Leavitt said. “It’s a very big undertaking to launch and nurture a brand from scratch.”
*Or you just have a best friend who completely freaking out right now.
Kate Spade to Shut Brand Stores While Forming China Venture [Bloomberg]
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