Here's why Kate Spade didn't profit when her brand sold to Coach for $2.4 billion

"We had so many boxes in our 1,800-square-foot loft during shipping time that we had a path from the bedroom to the bathroom," Andy told CNN Money. "It was hot. We had no air conditioning, and it was August. We had put everything into this. I put in my 401(k) money ... We didn't know for sure that the business was going to work."

In the late 1990's, the brand was considered to be an exclusive label. Sales jumped to $1.5 million in 1995 from $100,000 in 1993, then to $27 million in 1998, according to Racked.

In 1999, the Spade's sold a 56% stake of the company to Neiman Marcus for $33.6 million. Years later, in 2006, they sold the remaining stake to Neiman's for $59 million. In 2007, the Spade family relinquished all involvement in the business.

Just one week after buying the company, Neiman sold it to apparel giant Liz Claiborne for around $124 million. At the time, Liz Claiborne, which later became Fifth & Pacific, stocked more than 40 different brands and generated more than $5 billion in annual sales. However, its handbags and accessories business was limited.

Fifth & Pacific went on to sell off its other brands and renamed itself Kate Spade & Co. The brand was bought by Coach (now Tapestry) for $2.4 billion in 2017. The Spades did not benefit from this sale.

After a brief hiatus from fashion, Kate Spade launched a new handbag-and-shoe company, Frances Valentine, in 2015. She also changed her name to Kate Valentine to match the new brand and distance herself from her previous business.

Remembering Kate Spade:

• 'You don't know me but I know you': After Kate Spade's death, people are sharing how the designer touched their lives through fashion
• Kate Spade has died in an apparent suicide at 55. Here's the story behind the rise of her handbag empire.
• Kate Spade shared how she wanted to be remembered in a 2002 interview
• Kate Spade was totally detached from her namesake brand
• Kate Spade leaves behind her husband and business partner. Here's what we know about their relationship.
• Kate Spade's fans are reacting to her apparent suicide with reminders about mental health
• Celebrities and fashion industry figures are reacting to Kate Spade's apparent suicide