With the news of Kate Spade’s untimely passing, the entire fashion world is in mourning. But for the upsetting circumstances surrounding her death, we need to celebrate her life and look at her magnificent achievements. As this webiste is catered towards those that are looking to develop their career in the fashion industry, what can we all learn from her achievements, and implement them into our own career trajectory?
Be Playful
When you think of Kate Spade, you think of a certain playful style in clutch bags and handbags. The distinctive style of her handbags, when launched in 1993, was unique, as they took no inspiration from contemporary Styles. This, in a business perspective, can be seen as very foolish, but being playful in business, and in life is essential. David Spade, Kate’s brother-in-law, a funnyman in his own right, said that she could make him laugh like no other, which goes to show how playful she really was, in and out of the boardroom.
Family Comes First
Kate Spade New York was founded by Kate and her husband. After 6 years at Mademoiselle magazine, she left to start her own line of handbags. Struggling to take off, after providing handbags of a limited style, her husband Andy withdrew $35,000 from his 401K account to realize Kate’s vision. As the company started from nothing, and grew considerably, by the time the remaining stakes were acquired by Neiman Marcus Group in 2006, the company was valued at $134 million. This would not have been achievable if Kate and Andy hadn’t stuck together. And while you might say to yourself that you haven’t got a wealthy significant other, the fact of the matter is you can still make the most of specific resources. For many fashion entrepreneurs, it’s vital to find a mentor. A mentor can be so many things for you, and give you the guidance unit so desperately needs. Or, they can point you in the right direction when it comes to financial problems or bumps in the road that you need to overcome. Financial problems arise a lot in any fashion business, but you can make the most of asset based lending, or an angel investor, or do what Andy Spade did and take money out of your 401K. We don’t all have family members to rely on, but we build our own family in business, and that’s exactly what Kate did.
Take The Risks
Although Kate came from a background where she could research the industry inside and out, from her experience as a style editor at Mademoiselle magazine, she still knew how to take risks. She was one of the first people who put her label name on the outside of the bag and saw a lot more designers follow suit afterward. She took time to push boundaries in the industry, which paid off in spades, pardon the pun, as celebrities were clamoring to wear her designer bags. But, it wasn’t just about the bags themselves. The business was one of the first to embrace digital technology. By using iPads, computers, and cell phones as part of the in-store routine blazed a trail for every other business you see now. One of the biggest risks that she took was, arguably, branching out. In business, branching out can be the best thing that ever happened to you, or it could be the death knell, and by diversifying her stock, from shoes, eyewear, and even paper goods, her brand went from strength to strength. The Kate Spade At Home collection, launched in 2007, even provided bath items and bedding. In April 2013, Live Colorfully was launched, a fragrance that followed on from Kate Spade in 2003, and Twirl in 2010. And from there, Jack Spade expanded the brand to men. This was a considerable risk, as they actively went for a style that opposed the sleek style of the Kate Spade brand, and while the Jack Spade stores shut down in January 2015, you cannot say that she didn’t take risks.
Keep Moving And Changing
In business, as in life, you need to keep moving on. By the time Kate and Andy came to sell the Kate Spade brand, she was ready to hang up her clutch and spend more time with her daughter. But, she still took the time to release three books and invest in Plum TV, a small television network. But clearly, she had itchy feet, and made a comeback in 2016, launching Frances Valentine. If you can learn anything from Kate Spade’s endeavors, it’s that you shouldn’t ever stop. Being restless and eager to seek out new and exciting endeavors should be part of what makes you thrive as a fashion designer, entrepreneur, or any role that you want to pursue. As long as you stay true to your vision, you can achieve anything.
And while the fashion world is in mourning, it’s far better to think of all of the achievements she made in her relatively short life. From revolutionizing the handbag because she saw nothing that appealed to her, to branching out to other endeavors, the accolades she received in her life were the icing on the cake. At the end of the day, she remained playful, risky, but still took the time to be a mother and wife. We can be absurdly single-minded when pursuing our careers, but it’s amazing to see how much of a backward move she made because she saw something she believed in. And as one boutique turned into hundreds, she revolutionized the handbag as we see it now. So don’t be afraid to take risks, if you have a vision, stay true to it. Your goal, whether to progress up the fashion career ladder or to do something that nobody has done before, we can all learn from Kate. Wherever she may be now, her legacy is sealed. Whenever we think of Kate Spade now, we shouldn’t think about her untimely demise, but the way she revolutionized the fashion industry. We can all learn from her.
