Retailer Kate Spade exploring sale: report

Bengaluru

HANDBAG and accessories maker and retailer Kate Spade & Co, under pressure from an activist investor, is exploring a sale and is working with a bank to sound out possible buyers, The Wall Street Journal reported, citing people familiar with the matter.

The potential buyers contacted include retailers, the newspaper reported, adding that the process was at an early stage. Shares of Kate Spade, which had a market value of US$1.86 billion as at Tuesday's close, were up 16 per cent at US$16.83 after being halted twice.