Georgetown has only enjoyed the company of Kate Spade New York’s less-expensive little sister, Kate Spade Saturday, since October, but the parent company announced Thursday it has decided to shutter all 16 of the Saturday store locations in the first half of 2015.
Kate Spade & Co. framed the decision as part of a “plan to focus investment on Kate Spade New York,” which will absorb the Saturday label. “A key tenet of our road map for growth is ensuring that we are disciplined and forward-looking with our investments, putting our resources behind targeted initiatives that will maximize profitability and shareholder value in the near, mid and long term,” says Craig A. Leavitt, Chief Executive Officer of Kate Spade & Company in a press release. Translation: They’re putting all their eggs in one basket.
Additionally, all 12 Jack Spade stores—the company’s menswear brand—will shutter in the next few months, transitioning into an e-commerce business model complemented by distribution through its retail partners. “We are committed to our men’s heritage and believe this category is an important part of our growth story and a complement to our thriving women’s business,” said Leavitt in a press release. “With this new approach to distribution, Jack Spade is now better positioned to grow as we broaden our customer target.”
But for devotees of the quirky casual designs featured in Kate Spade Saturday stores, the brand has promised it’s taken notes on what consumers liked about the offshoot and intends to employ this newfound knowledge in Kate Spade New York merchandise.
“We now have a better understanding of our customers’ weekend style, thanks to the hard work and contributions from the members of our Kate Spade Saturday family who developed commercially appealing products and attracted new customers through the Kate Spade Saturday business,” says Leavitt. “We are excited to apply these learnings to the Kate Spade New York collection.”