On Wednesday, Tapestry Inc, the conglomerate formerly known as Coach Inc, announced that Kate Spade’s creative director Deborah Lloyd will be leaving the company, Business of Fashion reported. Tapestry had acquired Kate Spade back in May — alongside Stuart Weitzman — and already those changes are being felt.
“[Lloyd] has been an amazing partner in the short time that I’ve worked with her,” Tapestry’s chief executive Victor Luis tells BOF. “There are very few individuals who come into a brand at approximately $100 million as creative director, as she did 10 years ago, and then lead it to over $1.3 billion dollars in sales.”
She joined Kate Spade in 2007 after stints at Burberry and Banana Republic. In her time there, she transformed Kate Spade into a fun and whimsical brand (including collaborations with Minnie Mouse), expanding the line beyond accessories, and into ready-to-wear and presentations at New York Fashion Week. In October, there was speculation that Lloyd may leave the company following the departure of the brand’s CEO Craig Leavitt.
Nicola Glass, who currently oversees the accessories at Michael Kors, will take over Lloyd’s role early next year. Luis explained to BOF that Glass is the perfect fit because she understands the brand’s legacy and can “interpret it in a very modern way.”
Last year, Lloyd said her end goal for Kate Spade was to "create this global lifestyle brand that is seamless wherever you see it in the world; that you walk in and you see it, and you know it's Kate Spade versus anybody else.” She added that it was "her wish to lead a team of incredible women [to create] that," so that "one day [she] can drift off into the sunset.” Her sunset may have come a bit early at Kate Spade, but like the song goes, the sun will come out tomorrow.