Kate Spade was a renowned American fashion designer who founded the Kate Spade New York brand. Her designs were popular among women who loved bright colors and playful patterns. In 2018, the fashion industry was shocked to hear about her sudden death, leaving behind a legacy and a thriving fashion empire. Since then, many people have been curious about what happened to her estate, including who inherited it and the worth of her assets.
Who Inherited Kate Spade’s Estate?
After Kate Spade’s tragic death, her estate went to her only child, Frances Beatrix Spade. She was born in 2005 to Kate and her husband, Andy Spade. Frances was only thirteen when she inherited her mother’s estate, but it was put in a trust for her until she turned eighteen.
Who is Frances Beatrix, Kate Spade’s daughter?
Frances Beatrix is the only child of Kate Spade and Andy Spade. She was born on February 14, 2005, in New York City. Her parents were known for keeping her out of the spotlight and away from the media. Despite her parents’ fame, Frances had a relatively normal childhood, attending school in New York and participating in activities like soccer and ballet.
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What was Kate Spade worth when she died?
At the time of Kate Spade’s death in 2018, she was worth an estimated $150 million. Her fashion empire, Kate Spade New York, was valued at over $2 billion at the time. Her assets included multiple homes, a car, and a significant art collection.
What happened to Kate Spade estate?
After her death, Kate Spade’s estate went into a trust for her daughter, Frances. In 2019, it was announced that the Kate Spade New York brand would be donating $1 million to mental health causes in honor of Kate Spade. The brand has also released limited-edition collections in honor of the late designer, with a portion of the proceeds going to the Kate Spade New York Foundation, which supports mental health causes.
How much does the CEO of Kate Spade make?
As of 2023, the CEO of Kate Spade New York is Liz Fraser. It is not publicly known how much she makes, as her salary is not disclosed.
Who owns Kate Spade brand now?
In 2017, Coach Inc. (now known as Tapestry Inc.) purchased the Kate Spade New York brand for $2.4 billion. However, in 2020, the brand was sold again to the parent company of luxury fashion brand Michael Kors, Capri Holdings Limited. The brand is now owned by Capri Holdings, which also owns luxury brands Jimmy Choo and Versace.
Source: ghnewsbuzz.com
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