Investors Push for Kate Spade's Future
Kate Spade carried the firm this year and is expected to do the same next year. Many of the investors are comparing Kate Spade to Michael Kors Holdings Ltd.'s ultrasuccessful 2010 public offering and Tory Burch, which sources say was valued at about $2.5 billion in a recent Private stock sale.
Investors are pushing to free more of Kate Spade's financial potential to keep the upward momentum. William L. McComb, CEO of Fifth & Pacific, said management is open to the idea of a different corporate structure.
"The management team and board of directors of Fifth & Pacific are committed to delivering value to our shareholders," McComb said. "This includes making resource allocation decisions today that support strong long-term growth within our current strategy as well as being thoughtful regarding alternatives to our current multibrand portfolio approach that unlock value."
As for Juicy Couture?
McComb described 2012 as a year of progress tempered by "a miss in North America caused by merchandising and other issues at Juicy Couture that we believe are now being corrected under Paul Blum's direction."