She’s coming in clutch. Elyce Arons didn’t know it at the time, but back in 1993, she and her friend Kate Spade were launching one of the most prolific handbag houses the industry has ever seen. They climbed to the top of the fashion food chain, sold the iconic brand, then decided to do the whole damn thing again with Frances Valentine.

Here, the serial co-founder and CEO shares how she went from NY newbie to NY legend, why she couldn’t take early retirement, and what she wishes she knew at 21.

How did Kate Spade come to be?
It just happened naturally. While Katy and I were in college, we wanted to have a business of our own, but we didn’t know what it was going to be. I loved fashion and we were both in journalism school, so when we came to New York, she got a job at Mademoiselle and I was working at a fashion company called Jobo. Then it just came about.

When did it dawn on you that the brand was a big deal?
I guess when we went to the CFDA Awards. And when we went to the Met Gala and were invited to all those things, it was really great.

What made you want to launch Frances Valentine?
We sold Kate Spade after 13-14 years of owning it, and we really became adults while growing that business. We had children, we got married, so it was a very busy time. We felt like, “Okay, we’ve built this business. It’s like a child to us, but perhaps it’s time to move on.” It was the best feeling in the world because I thought, “I’m never going to have to work again.” We took the summer off and I was with the kids, but then September rolled around. I walked out of their school and didn’t know what to do. I had never not worked a day in my life. We started saying, “Should we do it again?” In 2014, we signed a lease on a space at Bryant Park, then we launched Frances Valentine in 2016.

You started both brands with Kate, so how did you adjust after she passed?
It was a real crossroads, but the good thing is we’ve had teams at both Kate Spade and Frances Valentine that have been completely supportive. Despite Kate’s name being on the door, it was really a collaborative process, and for Frances Valentine, it’s the same. My name won’t be on the door—and it’s probably good that it’s not because it’s really about a group of people who do all of this together. There are certain things that I like, and of course, I can say no and yes to things, but everybody contributes.

What advice would you give your 21-year-old self?
A lot of different things, but I would say, have confidence in yourself. Don’t let other people dissuade you from your vision and your goal, because there are a lot of people who might say “You can’t really do that” or “You shouldn’t do this,” and sometimes those negative voices can be stronger than positive voices. So you should really just follow your dream.