Police told the publication a housekeeper found the designer on Tuesday morning in her Park Avenue home in Manhattan.
Spade's family said in a statement to the New York Daily News, 'We are all devastated by today’s tragedy.
'We loved Kate dearly and will miss her terribly. We would ask that our privacy be respected as we grieve during this very difficult time.'
Kate Spade was the designer behind eponymous label Kate Spade New York.
Founded in 1993 with her husband, Andy Spade, the brother of actor David Spade, the brand began by designing its infamously colorful handbags before expanding into other accessories and clothing, ultimately turning into a billion dollar brand.
Tapestry, Inc. bought Kate Spade in July 2017 for $2.4 billion.
After selling her ownership in her company, Kate launched a new accessories brand, Frances Valentine.
'I thought it was important to distinguish who I am now,' she said of the new brand. 'I’m the same person, but there’s a difference.'
Spade is survived by her husband Andy and their 13-year-old daughter Frances.
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This article originally appeared on New Idea.