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KATE SPADE ON PARADE: Could Fifth & Pacific Cos. Inc. be open to considering spinning off one or more of its brands?
The parent company plans to hold a Kate Spade Investor Day for the financial community on March 15. The event, whose location hasn’t been determined yet, will be Webcast. This is the first of three planned events for 2013, with similar presentations for Lucky Brand to take place near the end of the second quarter and another planned for Juicy Couture near the end of the third quarter. Last April, the company hosted a multibrand event, but this is the first time it is putting the spotlight on individual brands.
As reported, investors have pushed FNP to spin off at least a piece of the Kate Spade business, which is the company’s most profitable brand. William L. McComb, chairman and chief executive officer of FNP, said this week that management was at least open to the notion of a different corporate structure, which unlocks value.