The New York City chief medical examiner's office said the cause of Spade's death was under investigation. The Council of Fashion Designers of America in a statement called Spade "a great talent who had an immeasurable impact on American fashion and the way the world viewed American accessories." "Although Kate has not been affiliated with the brand for more than a decade, she and her husband and creative partner, Andy, were the founders of our beloved brand," the statement said. Kate Spade New York released a statement calling the news "incredibly sad." The company's share price dipped by 1 percent to $44.68 in afternoon trading on the New York Stock Exchange. Tapestry Inc, the handbag company formerly known as Coach, bought the Kate Spade brand in May 2017 to tap millennials, who are drawn to the company's quirky satchels and colorful tote bags. In 2016, they launched a new footwear and accessories brand called Frances Valentine, naming it after their daughter, who is now 13. The couple sold their last stake in the brand in 2006 to focus on raising their daughter, Frances Beatrix Spade. Her brightly colored, clean-lined style offered a spunky take on fashion at time when luxury handbags were out of reach to most consumers and the industry was dominated by venerable European brands. The brand grew into a fashion empire, known for accessories that offered affordable luxury to younger working women. Medical examiners remove the body from the Park Avenue apartment of designer Kate Spade in New York, June 5, 2018.
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