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Kate Spade Faces Uphill Fight to Be Next Ralph Lauren

Kate Spade wants to be Ralph Lauren.

Looking to quadruple retail sales to $4 billion, the handbag maker is modeling itself on Lauren’s empire: a global lifestyle brand selling everything from apparel to home goods. Kate Spade & Co.’s Chief Executive Officer Craig Leavitt is focusing on categories with ready appeal -- fragrances, jewelry, watches, sunglasses -- and offering a range of price points to attract millennials on one end and luxury shoppers at the other.