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What's in a name: Fifth & Pacific becomes Kate Spade

  • Fifth & Pacific (FNP) officially changes its name to Kate Spade.
  • The company decided to make the change after a number of asset sales and closures left it with just one major brand.
  • In another bit of major news, the retailer says CEO  William McComb  will step down to be replaced by Craig Leavitt,  the current CEO of Kate Spade.
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