What company owned a majority stake in Kate Spade from 1999 to 2006?

The Neiman Marcus Group owned a majority stake in Kate Spade from 1999 to 2006.

Kate and Andy Spade founded the company in 1993 with Elyce Arons and Pamela Bell. The business initially focused on handbags, but its colorful, highly recognizable designs soon attracted major retail and investment interest. In 1999, Neiman Marcus Group paid about $34 million for a 56% stake, giving it majority ownership.

The arrangement lasted until 2006. That year, Neiman Marcus Group purchased the remaining 44% minority stake for approximately $59.4 million, becoming the company’s sole owner. It then sold 100% of Kate Spade to Liz Claiborne Inc. in November 2006 for roughly $121.5 million to $124 million, depending on the reported transaction figure.

Bergdorf Goodman, Nordstrom, and Saks Fifth Avenue were retailers or retail businesses associated with luxury fashion, not the company that held this controlling ownership position. Neiman Marcus Group’s investment helped Kate Spade expand before the brand moved into a new corporate chapter under Liz Claiborne.