This week marked two major announcements from fashion houses Kate Spade & Co. and Jones New York.
Kate Spade & Co. revealed that they will be shutting 19 Kate Spade Saturday stores in addition to the 12 Jack Spade stores featuring clothing exclusively for men. Is this indicative of the state of the economy? Fortunately, in this case, my answer here is a firm no.
If you are like me, my first thought was, “Didn’t they just open their doors?” Kate Spade Saturday launched in 2013, and in the fashion world, that practically is like “yesterday”. Much like the hugely successful Marc by Marc Jacobs (one of my all-time favorites), Kate Spade Saturday was intended to serve as a lower cost line with the same flair and fun found in Kate Spade clothing. I was super excited when I first heard the announcement, as I absolutely LOVE Kate Spade. Don’t believe me? Just take a look at all the times I have featured Kate Spade items on the blog. Given that many Kate Spade dresses range from $150-$400, I was anticipating Saturday equivalents to range from $50-$150. The second the Kate Spade Saturday store opened in Houston, I made my way over and was surprised to find that the prices were higher than expended, and I did not fully see the aspects of Kate Spade I love most incorporated in the designs. Don’t get me wrong, the stores housed come really cute finds, but at the price points, I would rather snag a Kate Spade item on sale. Thoughts?
For those of you who may be bummed, cheer up! While the stand-alone stores may be closing, the lines will be incorporated into Kate Spade stores. For my fellow Houstonians, you may be thinking about the seemingly bad luck they appear to be having recently. I only just found out this week that the Kate Spade store in Highland Village (the 2nd flagship store in the entire US) had to temporarily shut its doors due to a fire. Well, after reading Kate Spade’s projected earnings for 2015, I’m not too worried.
Unlike Kate Spade’s announcement, the future does not appear so bright for Jones New York. On Thursday, Jones New York announced that they will close 127 outlets (including 36 Canadian stores) and discontinue its wholesale business. The announcement did not come with many details regarding the clothing house’s future. According to interim CEO Andrew Hede, “We recognize that the Jones New York brand is important to many loyal customers and we are pursuing strategic alternatives for the brand.” This statement does not say much, so it will be interesting to see what direction the company decides to take.
For those of you living near a Kate Spade Saturday, Jack Spade, or Jones New York store, my advice is stock up now. With stores clothing that can only mean one thing: major sales!