Liz Claiborne Buys Kate Spade

  • November 9, 2006
Women's apparel maker Liz Claiborne Inc. said Wednesday it is buying handbag maker Kate Spade LLC for about $124 million in cash. With sales of $84 million in fiscal 2006, Kate Spade designs and markets high-end purses and accessories. Luxury department store chain Neiman Marcus Inc. had purchased a 56 percent stake in the company in 1999.

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