Tory Burch is looking for more money. The hot apparel and accessories firm, which is estimated to generate as much as $200 million in wholesale volume annually, is looking for an investor and shopping around a 30% stake in the New York-based business, according to WWD.
Although Tory Burch has been courted by strategic and private equity investors for more than a year, the designer told WWD in April that she wasn’t planning anytime soon to sell the business that she and Christopher Burch, her soon-to-be ex-husband, founded four years ago, but that she also wasn’t against the idea in the long-term.
It is not known whether the 30% stake comes from the designer’s or her ex-husband’s share, sources have speculated an outside investor would provide a solution to the estranged couple working together as co-owners, which they have done since their separation two years ago.
Even in this economy, Tory Burch’s business is booming. Beginning as a retailer, Tory Burch has 14 of its own stores and is carried in many department stores nationwide. 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.
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