Husband-and-wife team Kate and Andy Spade are saying goodbye to the company they founded.
As their service agreement with Liz Claiborne Inc. expires after the $4.99 billion vendor acquired the accessories brand in November, Kate and Andy Spade are stepping down from their respective roles as designer and chief executive officer at the end of next week at the close of spring market.
The Spades cited personal reasons, including a desire to spend time traveling with their two-and-a-half-year-old daughter. They will stay on as members of the brand’s new board indefinitely.
Claiborne is hoping to fill the brand’s ceo and head design role in the coming months.
For complete coverage, see tomorrow’s issue of WWD.