In my City
Congrats are in order! Fashion designer turned fashion mogul, Tory Burch, is now a billionaire! In fact she is the second youngest self-made female billionaire (second to Spanx creator Sara Blakely).
After a legal battle with her ex-husband Chris Burch, the 46 year old, former fashion PR is now worth over $1 billion. Chris Burch sued Tory Burch and most of her board members in October after he was forced off of the company’s Board of Directors and alleged that they were interfering with his relationships with suppliers. Tory counter-sued, and last week, the battle ended with him selling half his stake in her company, making Tory a billionaire.
The preppy-bohemian, attainable luxury lifestyle brand was started in Tory’s kitchen in 2004. The women’s apparel company is most known and loved for her Reva Ballet Flats, which was inspired by and named after her mother Reva.
She released the popular shoe in 2006, and it was an instant success. The shoe retails for $195, and comes in about every color. The popular shoe is adorned with her stylish “double T” medallion logo.
In 2008, she was recognized by the Council of Fashion Designers of America , winning the Accessory Designer of the Year award, solidifying her spot in the fashion world. Even better, in 2010, influencer and powerhouse, Oprah Winfrey included Tory’s Reva flats in her final Favorite Things episode, making it a serious must-have.
Here is a look at the interior design of one of her 68 stores (48 in the US, and 20 internationally).
The store design captures the essence of the brand. It is designed like a comforting, yet luxurious home. She admitted that her home is similarly designed.
Recently, ex-husband Chris Burch, who she divorced in 2006, launched a more affordable lifestyle luxury brand called C. Wonder. C. Wonder’s clothing and brand is very similar to the Tory Burch brand. Slick move Chris! Take a look at his store design.
The stores do bear a resemblence. Take a look at pictures of the storefront doors, which Tory used in her counterclaim seen here.
Well, in the end Tory Burch is the true winner. In 2012 the company brought in $800 million, and is worth an estimated $3.5 billion. If she decides to go public, it will up the company’s worth tremendously! Congrats, and continued success!