“There is no such thing as success without luck.” —Kate Spade
What was your childhood like?
It was a wholesome, Midwestern upbringing. Six kids.
Were you an entrepreneurial type at a young age?
Definitely. Parents would send eight kids to my house. I’d give them Kool-Aid and peanut butter and jelly sandwiches, which didn’t cost very much. So I’d make $30 for two hours of babysitting.
And when did you move east, to New York?
I got a job as an assistant in the fashion department at Mademoiselle, making $14,500. Andy and I were college sweethearts. We had a little studio—you know, the five-floor-walk-up, throw-the-keys-out-the-window thing.
How did you get the idea to start the company?
It was Andy’s idea. He said, “You love handbags.” I remember thinking if we were going to do it, do it then. Because if it didn’t succeed we could always go back.
How did your parents react?
My mother said, “You just got promoted. What are you thinking? This could have been a great career!”
How do you start a handbag company out of the blue?
I walked up and down 40th and 38th streets off Seventh Avenue, looking for fabric.
Did you have an inkling your bags would be such big hits?
No. Andy did. He once told me, when we were sitting down and I was boo-hooing about something, “Mark my words, someday you won’t be running the business as much as it will be running you, because it will become so big.”
How much is the company worth? More than $100 million?
No.
$50 million?
Right there and about, I guess.
Do you still get nervous?
Yeah. Oh yeah.
Does your quiet neurosis help you succeed?
Absolutely. Nervousness keeps you grounded, keeps you on your toes, keeps you aware and sharp. I’m not saying you have to be a crazy lunatic, but I do think that there’s something about the tension that is energizing.
What advice do you have for women who want to start their own businesses?
I wouldn’t think too much about it. That was key for me. I didn’t know anyone or anything. If I had known too much it would have been a little daunting and intimidating. And I might not have taken the risk.
Do you save all your money?
Pretty much. I’m not interested in acquiring a lot.
Do you think it’s harder for a woman than a man to succeed in business?
No.
Have you had any experiences with sexism?
Once, when I had just started. Some man that I wanted to buy fabric from told me, “No. Why don’t you find yourself a good husband and start a family? You don’t need to be bothering yourself with this kind of business.” I wanted a sample. He said, “I take my grandkids to Baskin-Robbins and I get them the tasters. And we walk out, and I haven’t bought anything.” He said, “I’m not Baskin-Robbins.”
And so what did you do?
I went outside and cried to Andy from a pay phone on Seventh Avenue.
How did you get the idea to put the labels on the outside of your bags?
It was an accident. The night before an accessory show in 1992 I had them on the inside, and the bag looked too simple. It didn’t have anything for your eye to go to. So I started sewing the labels on the outside, by hand with a needle. Without a thimble. And I remember Andy coming in. I said, “What do you think?” He said he liked it.
And why did that catch on?
I don’t know. In the beginning some people thought, Who does she think she is to put her name on it? Or that Andy was a marketing genius with the labels. We weren’t that clever. We’ve been mostly lucky.
So does luck have a lot to do with success?
Without a doubt. There is no such thing as success without luck.
How did you realize you’d hit it big?
About six years ago Andy and I were walking down Canal Street, seeing all the fake Chanel and Gucci bags, and Andy said, “Kate, wouldn’t it be funny if someday we saw knockoffs of our bags being sold?” And now, cut to: It’s the case, and we don’t think it’s very funny.
