Famed fashion designer Kate Spade, née Katherine Noel Brosnahan, was found dead in her New York City apartment from an apparent suicide.
Spade was a former accessories editor at the now-closed Mademoiselle magazine before launching her design company, Kate Spade New York, in 1993.
A week after the 2006 sale, Neiman Marcus sold Kate Spade to fashion giant Liz Claiborne for a reported $124 million, including debt.
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Spade's most recent move was setting up a new luxury brand called Frances Valentine, but it will undoubtedly be the eponymous fashion house that she will be best remembered for.
"Kate Spade, the visionary founder of our brand, has passed", the statement read.
"Her products were so filled with joy, colour and excitement - I really hope she knew how much love she brought to her customers".
Born in Kansas City in Missouri in 1962, Spade served as the accessories editor at USA women's magazine Mademoiselle before founding the brand Kate Spade in 1993.
"Her new brand "Frances Valentine" is one of my favorites".
Known for its boxy but timeless shape, the Sam bag was among the first designs that Spade released.
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Kate Spade is an iconic name in fashion, synonymous with sleek, sophisticated handbags. Kate's sad passing means she is survived by her daughter and her husband, whom she was married to for 24 years.
The firm was bought out past year by fellow NY designer Coach for a $2.4bn (£1.8bn).
"I'm wearing my Kate Spade shoes, holding my Kate Spade Phone, with my Kate Spade Briefcase and Kate Spade purse".
Many celebrities also took a moment to shine a light on mental illness while sharing their condolences. My heart goes out to Kate Spade's family and friends.
Big Little Lies star Reese Witherspoon led the touching notes shared on social media, describing her as a "talented woman who will be dearly missed". You could not walk into her boutiques and not smile.
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