Fifth & Pacific has a luxurious plan for Kate Spade

|About: Kate Spade & Company (KATE)|By:, SA News Editor

Fifth & Pacific (FNP +1.8%) has some pretty big ideas now that it can focus most of its attention on Kate Spade.

CEO William Mccomb says the brand can become the next Coach as it branches out into more products.

A play into luxury makes sense right now with high-end spending holding up amid a retail holiday season, but it's also tough turf to break into, note analysts.