US-based women’s fashion brand Kate Spade has aggressive plans for China, where it is less established.
The company will open eight to 12 stores in China this year, adding to the 20 stores it already has in the country. Recently, Kate Spade opened a Asia headquarter in Hong Kong to oversee its expansion in Asia, excluding Japan.
The brand is doing well in China. According to Kate Spade CEO Craig Leavitt, the luxury slowdown in China, which impacted some of the high-end luxury brands, has created opportunities for more accessible fashion brands.
“For brands like ours that are in the accessible luxury arena, it’s actually an opportunity to gain market share,” said Leavitt.
The company expects its international retail footprint for the Kate Spade New York, Jack Spade, and Kate Spade Saturday brands will together “outpace its growth domestically and achieve over 35 percent penetration by 2016.”
image credit: kate spade