2013 May 9
Kate Spade's New Madison Avenue Digs
Patrick McMullan View Gallery
(NEW YORK) The quirkily preppy, bow-festooned world of Kate Spade is hitting Madison Avenue, in the form of the brand's first flagship store. Nearly 8,000 square feet in size, the three-floor townhouse spread is more than triple the size of an average Kate Spade outlet, which measure in at 1,500 to 2,000 square feet apiece. It will be officially unveiled on Friday by chief executive officer Craig Leavitt and creative director Deborah Lloyd via a ribbon-cutting ceremony. As for its exact location? 789 Madison Ave., at the corner of 67th St. The brand, which has been owned by Fifth & Pacific Cos. Inc. since 2006, has predicted revenues in 2013 of $700 to $750 million, projected to hit $2 billion by 2017.
Kate Spade's uptown flagship spread is the brand's third NYC boutique (its first two are located in Soho at Broome and Mercer Sts., and a Flatiron location is on Fifth Ave. and 20th St.) and its 53rd domestic outpost. To date, there are 131 locations internationally; plus, 32 outlet stores. Where will Kate Spade's spate of girly goodies get the flagship treatment next? Perhaps Shanghai, Tokyo, or Houston, according to WWD.
Its newest, biggest location includes luxe extras like a VIP salon, a bar, and a spate of ready-to-wear exclusive pieces in the Madison Collection, priced between $248 and $448.
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