Kate Spade Sub Line And Jones New York Will Close Down.

Kate Spade is the low price sub line brand, it announced that it will close 19 stores (including 16 direct battalions and 3 cooperative stores), but the brand's e-commerce website will always be maintained.

Despite big promotions last year, sales were still sluggish.

The company's statement shows that "the key factors for the success of Kate Spade Saturday" will be included in the Kate Spade main line, which means that it will no longer operate independently and will merge with Kate Spade New York.

A spokesman for Kate Spade Saturday also said that the label of the brand will not disappear completely, and it is expected that it will still appear in the Kate Spade New York shop and its e-commerce website in the future.

Jack Spade is the menswear brand launched by Kate Spade in 1999, and its 12 Direct stores will also be closed in the first half of 2015.

In addition, Jack Spade will continue to pursue "a new business model, using its retail partners' distribution network to expand its e-commerce platform."

Last week, Kate Spade LLC signed an agreement with GBG Accessories Group to create Kate Spade New York.

They include hats, knitted scarves, leather gloves and belt products.

Mary Beech, chief marketing officer and senior vice president of Kate Spade, said: "we look forward to building a strong partnership with Global Brands group and introducing high-quality and well designed new models to our most popular accessories series."

The series will be delivered in the autumn and will be luxurious.

Stores and Kate Spade New York retail stores.

Bruce Rockowitz, chief executive officer and vice president of Global Brands group, said Kate Spade "is an excellent addition to our brand portfolio."

He added that the deal is in line with their cooperation strategy with the US brand, making use of their retailers' relationship and global distribution capabilities.

On the other hand, at the Chinese level, the company will acquire 60% stake in the Sino Korean joint venture company in Hongkong for 36 million US dollars, and the investment company of China's Crawford group, a subsidiary of Hongkong's Crawford group, will invest 21 million US dollars into Kate China Limited, accounting for 50% of the shares.

Kate Spade's CEO Craig A. Leavitt says it will focus on two aspects of growth, one is the expansion of the region, the other is the extension of the product category.