Kate Spade has completed the acquisition of the 51 per cent interest held by Sanei International in Kate Spade Japan.

Kate Spade Japan was a joint venture between Sanei and Kate Spade in August 2009. It operates the Kate Spade and Jack Spade businesses in Japan. The Japanese business represents the company’s second largest market outside of the US.

The purchase price for the Kate Spade Japan buyout, including debt repayment, related transaction fees and use of Kate Spade Japan’s cash on hand, was US$47.6 million.

“It is our strategy to build a global company to support what is already quickly becoming a global brand,” the company said.

The New York-based brand distributes its products in Japan mainly through 53 points of sale including department store concessions and e-commerce.

The company intends to leverage its global retail expertise with Kate Spade Japan’s continued growth and its strategic marketing and sales positions in the rest of Asia.

Kate Spade is owned by Fifth & Pacific Companies which also owns Juicy Couture, Lucky Brand and Jack Spade.

GB