Tory Burch, the namesake lifestyle collection of sportswear and accessories for women by designer Tory Burch, is said to be looking for an investor. The hot firm is estimated to generate approximately $200 million in wholesale per year and seeks a buyer for a 30% stake. Industry sources say the asking price is steep: about $300 million for the 30% stake and for those who are interested: a $935 million- $1 billion for the whole company.
Tory and Christopher Burch started their business four years ago. They are in the process of separating and sources speculate the 30% stake comes from the designer’s or her ex-husband’s share.
A rare success story in this economy, Tory Burch’s business is booming. Tory Burch is currently sold at its freestanding stores in New York, Los Angeles, Atlanta, Dallas, Greenwich, South Coast Plaza in Costa Mesa, CA, East Hampton, Bal Harbour, Chicago, Las Vegas, San Diego and Houston. The collection is also available at Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Nordstrom and Bloomingdales stores nationwide, and at nearly 400 specialty stores throughout the United States. Outside of the US, the collection is available at Holt Renfrew, Selfridges, Harvey Nichols London and Dubai, Lane Crawford and select stores throughout Europe.
Half the business is accessories, which more than tripled in sales last year, and the Council of Fashion Designers of America in May gave Burch the Accessories Designer of the Year award.
Photo: website Tory Burch
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