By Leia Klingel Published June 05, 2018 Business Leaders FOXBusiness Facebook Twitter Comments Print video Designer looks without the designer prices Poshmark CEO Manish Chandra on e-commerce site’s unique business strategy. Tapestry, owner of Kate Spade brands, saw its stock fall on the news that the designer had passed away from an apparent suicide, as first reported by CBS New York. Continue Reading Below Ticker Security Last Change %Chg TPR TAPESTRY INC. 44.84 -0.31 -0.69% Kate Spade, a former accessories editor at Mademoiselle, started Kate Spade in 1993, when she set out to design the perfect handbag and created just six silhouettes. The first store opened in New York City in 1996. Over the years the company expanded beyond handbags to a complete lifestyle brand including clothing, jewelry, shoes, stationery, eyewear, baby, fragrance, tabletop, bedding and gifts. Kate Spade was sold Neiman Marcus Group in 1999 – which was later sold to Fifth & Pacific (formerly Liz Claiborne) in 2006. Kate Spade is currently owned by Tapestry, formerly Coach. In 2016, Kate Spade and her husband Andy Spade, along with their longtime friends, Elyce Arons and shoedesigner Paola Venturi, launched the fashion endeavor, Frances Valentine.