Fashion Designer Kate Spade Found Dead Of 'Apparent Suicide'

Designer Kate Spade was found dead Tuesday of an apparent suicide in her Manhattan apartment, according to The Associated Press.

What Happened

Law enforcement officials told The Associated Press she was found with a red scarf around her neck attached to a doorknob. A housekeeper found a note left by Spade at the scene.

A medical examiner will perform an autopsy.

Fashion Icon

Spade, 55, and her husband Andy Spade had grown the formerly independent eponymous company to its decades-long dominance in the high-end handbag market. She sold her position in Kate Spade New York in 2006, and Coach acquired the $2.4 billion company last year to run under Tapestry Inc TPR.

The retailer continued to operate 140 branded shops nationally and 175 internationally.

In 2016, she launched Frances Valentine, a collection of footwear, handbags and accessories.

Tapestry Investors React

Spade’s following responded to news of her death with apparent panic. Shares of Tapestry fell nearly 2 percent before recovering barely half of their losses.

At the time of publication, shares were down 1. percent at a rate of $44.47.

Related Links:

Tapestry Falls Following Q3 Earnings; Kate Spade In Focus

Coach Needs Time To 'Digest' Kate Spade, Stock Could Take Time To Adjust

Image credit: Laws Laws ZOIT G [CC BY-SA 4.0], from Wikimedia Commons