In what year did Kate Spade sell a majority stake in her company? 1999.
In 1999, Kate Spade sold a 56% stake in her business to the Neiman Marcus Group. Because 56% is more than half, this was a majority stake, although the transaction did not immediately mean the entire company had changed hands.
The investment helped the young New York brand expand its operations and reach customers internationally. At the time, Kate Spade had already built a strong reputation for colorful, streamlined handbags that offered a playful alternative to more traditional luxury accessories.
A common mix-up is the later sale of the remaining shares. Neiman Marcus acquired the other 44% in 2006, and the label was then sold to Liz Claiborne Inc. for $124 million. Coach’s much larger acquisition came later, in 2017, when it purchased Kate Spade & Company for $2.4 billion. Thus, 1999 identifies the majority-stake sale, not the final transfer of ownership.