New York fashion company Fifth & Pacific Cos. on Thursday changed its name to Kate Spade & Co. to reflect the company's new, singular focus. The apparel maker also announced on the same day that its chief executive William McComb will be replaced by Kate Spade CEO Craig Leavitt.
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According to a Bloomberg report, Fifth & Pacific's designer handbag maker Kate Spade may become the next hot acquisition for buyout firms and retailers after the company sells Juicy Couture and Lucky Brand.