The Kate Spade brand got a little kicker yesterday in the nation’s capital as Sasha Obama wore a Kate Spade dress and overcoat to President Obama’s second inauguration. While this isn’t exactly a stock moving event, we think it’s a brand validator given that the First Lady is arguably the most trend-setting First Lady since Jackie O fifty years ago. We’ve seen that thus far with brands like J Crew, and the addition of Kate Spade into the mix can’t hurt by any means. Again, this does little to alter our value for FNP today as it is minor in the grand scheme of things, but the underlying strength and value of Kate Spade is core to any investment thesis, and this is a nugget of evidence that it still holds true.
Takeaway: Kate Spade was unofficially endorsed by the Obama fashionistas at Monday’s Presidential Inauguration.