According to the New York Post, Tory Burch
just sold an equity stake to a Mexican investment firm in a
deal that values her fashion business at upwards of $500 million.
That's a severely discounted price considering last year she was
telling investors it was worth as much as $1 billion.
At least Burch and her ex-husband and business
partner Chris Burch who founded the business together five years ago
fared better than Brioni and Roberto Cavalli who in this tough economic
climate have not been able to sell minority stakes at all.
Under the agreement, Tresalia Capital of Mexico City poured in more
than $100 million in exchange for between 20-25 percent of
Tory Burch, sources said.
Despite the collapse of luxury spending the Tory Burch brand has continued to grow and is still "doing
close to what it was doing last year," according to one source.
Image: SplendidCitySee the Top Ten Summer 2016 Trends for Women Over 40