Tory Burch LLC

Tory Burch LLC
Company typePrivate
IndustryFashion
FoundedFebruary 2004; 20 years ago (2004-02)
FounderTory Burch
HeadquartersNew York, New York, U.S.
Number of locations
378 (2024)[1]
Area served
Worldwide
Key people
Pierre-Yves Roussel (CEO)
Number of employees
4,800 (2024)[1]
Websitetoryburch.com

Tory Burch LLC is luxury women's fashion label based in Manhattan, New York, United States. It was founded by American designer Tory Burch in 2004. As of 2019, Pierre-Yves Roussel is the CEO of the company.

History

Tory Burch began her fashion label – "Tory by TRB", later known as "Tory Burch" – in February 2004, launching it with a retail store in Manhattan's Nolita district.[2][3][4] Most of the inventory sold out on the first day.[5][6] When Oprah Winfrey endorsed her line on The Oprah Winfrey Show in April 2005, calling Burch "the next big thing in fashion", Burch's website received eight million hits the following day.[7][8]

Since launch, the company has grown to include more than 370 Tory Burch stores worldwide,[9] including flagships in New York, Los Angeles, London, Paris, Rome, Tokyo, and Seoul, and ecommerce sites in seven languages.[10][11][12] The company’s Shanghai flagship, which launched in 2014, is its largest.[10] The fashion line, which encompasses ready-to-wear, shoes, handbags, accessories, watches, home decor, and a fragrance and beauty collection, is also carried at over 3,000 department and specialty stores worldwide,[13][6][14] including Saks Fifth Avenue, Bergdorf Goodman, Neiman Marcus,[15] Nordstrom, and Bloomingdale's,[16] as well as Harrods, Harvey Nichols,[17] Galeries Lafayette,[18] Lane Crawford,[19] and Isetan.[20]

In 2009, Burch sold a minority stake in her company to a Mexican private equity firm, Tresalia Capital.[21] Additional minority investors were added in December 2012 in conjunction with the settlement of a legal dispute between Burch and her ex-husband. This settlement is said to have removed a substantial obstacle to a forthcoming IPO, which has been the subject of considerable discussion in the financial and fashion industries.[22][23] As of 2015, Burch had stated that there were no plans for the company to go public.[24] In 2018, the company bought back Tresalia Capital's minority stake in the business.[25]

Burch at the 2007 Accessories Council Excellence Awards

In September 2011, Burch did her first runway fashion show, and has continued to show each season at New York Fashion Week.[8][26][27][28]

In Fall 2013, Burch launched her first fragrance and a beauty capsule collection with Estée Lauder.[29]

In Summer 2014, she introduced a line of accessories for the Fitbit Flex activity-tracking device, making hers the first major fashion brand to move into wearable technology. Fall 2014 marked the publication of her first and bestselling book, Tory Burch in Color, and the launch of watches with Fossil.[10][30]

In March 2015, Burch extended her home line with a collection of lettuce ware created in collaboration with Palm Beach artist and potter Dodie Thayer.[31][32][33] In July 2015, Burch launched her first boutique in Paris.[11]

In August 2019, the brand announced that it had entered a long-term partnership with Shiseido to develop, market, and distribute Tory Burch beauty brands, beginning in January 2020.[34]

In 2021, the Tory Burch company and the School of Fashion at Parsons School of Design announced a five-year multi-disciplinary educational partnership.[35]

In 2022, the brand launched Essence of Dreams, a collection of five fragrances, with Shiseido.[36]

In January 2024, Tory collaborated with Humberto Leon on a concept shop on Melrose Avenue in Los Angeles that showcased her Spring 2024 collection; the boutique’s façade, interior, and some of the fashions featured animal portraits by German photographer Walter Schels.[37][38][39]

In 2024, the company was included on Time's list of the 100 Most Influential Companies,[40] and Burch was one of Time magazine's 100 most influential people in the world.[41]

In 2024, the brand introduced Sublime, a new fragrance with a launch campaign featuring Kendall Jenner.[42][43]

Tory Sport

In September 2015, Burch also introduced Tory Sport, a separate performance activewear line, on a dedicated website,[44][45] and in a pop-up shop on Elizabeth Street in Manhattan in the space where she had launched her brand's first boutique in 2004.[46][47][48] A stand-alone store on Fifth Avenue in New York, as well as boutiques in East Hampton and Dallas, were opened in 2016.[49][50][51] As of late 2017 Tory Sport has stores in several cities around the U.S. and an in-store boutique at the Tory Burch store in Hong Kong.[52] The collection includes designs for running, studio, tennis, swimming, and golf, as well as clothes for before and after a workout.[53][54] Both the Tory Burch line and the Tory Burch Sport line support the Tory Burch Foundation, which empowers women entrepreneurs by providing access to capital, business education, networking, and a fellows program.[55][56][47][57]

Management

Pierre-Yves Roussel joined the company as CEO in 2019.[58] In November 2020, Tory Burch LLC named Thibault Villet president of the Asia-Pacific region, effective on December 28, 2020. In his new position, Villet will manage all facets of the brand’s activities.[59]

A REVA ballet flat designed by Burch

Design style

Burch's style has been described as preppy-boho and preppy-bohemian luxe,[60] and is associated with her T-logo medallion.[61] Known for being easy to wear and versatile,[61][62][63][64] Tory Burch styles are popular with women of all ages,[65] including the viewers and fans of the television show Gossip Girl, where they were often featured.[66] In 2007, there were wait lists to buy Tory Burch fashions,[67] which are known for color and print and often pay homage to styles of the 1960s and 1970s.[68][69][70] Burch named her line of Reva ballerina flats after her mother.[62][71]

In the 2020s, after Burch relinquished her CEO role to focus almost exclusively on designing, the aesthetic has evolved in what she calls a "creative reinvention" of the brand.[72]

Awards

References

  1. ^ a b Fernandez, Chantal (February 6, 2024). "How Tory Burch found her edge". Financial Times.
  2. ^ a b c "About Tory Burch". ToryBurch.com. Archived from the original on July 8, 2007. Retrieved 2008-08-14.
  3. ^ Wahba, Phil (September 25, 2014). "Tory Burch takes on Ralph Lauren veteran as co-CEO". Fortune. Retrieved 29 October 2014.
  4. ^ Agins, Teri. "How Tory Burch Found Her Stride". Wall Street Journal. February 1, 2008.
  5. ^ Merkin, Daphne (December 1, 2011). "Perfectly Perfect: Tory Burch". T: The New York Times Style Magazine. Retrieved 29 October 2014.
  6. ^ a b Portillo, Caroline McMillan (2014-07-23). "Exclusive: Tory Burch on life 'Perpetually' out of her comfort zone and why big risks pay big dividends". Columbus Business First. Retrieved 2014-07-23.
  7. ^ Berkus, Nate (January 1, 2008). "Fashion Designer Tory Burch". Oprah.com. Retrieved 29 October 2014.
  8. ^ a b "Tory Burch". Voguepedia. Vogue. Archived from the original on August 4, 2014. Retrieved 29 October 2014.
  9. ^ "Changemakers Advisory Board: Tory Burch". CNBC. October 3, 2023. Retrieved April 5, 2024.
  10. ^ a b c Chu, Jeff (2010-08-18). "Tory Burch's Personal Touch". Fast Company. Retrieved 2014-08-18.
  11. ^ a b "An American in Paris". W Magazine. 8 July 2015. Retrieved 8 July 2015.
  12. ^
  13. ^ Clifford, Catherine (May 12, 2017). "Why one exec passed up the chance to be president of this $127 billion company". CNBC. Retrieved May 17, 2017.
  14. ^ Zinko, Carolyne (2013-01-25). "Empowerment in fashion for Tory Burch". San Francisco Chronicle. Retrieved 2013-01-29.
  15. ^ "Tory Burch at Neiman Marcus".
  16. ^ "Tory Burch at Bloomingdales".
  17. ^ "Join an Exclusive Event at Tory Burch". Splash of Me. February 20, 2013. Retrieved 29 October 2014.
  18. ^ Gilles, Florent (April 1, 2014). "Tory Burch sets up shop in Galeries Lafayette". FashionMag.com. Retrieved 29 October 2014.
  19. ^ "Tory Burch's First Hong Kong Store". Fashion Industry Network. December 3, 2010. Retrieved 29 October 2014.
  20. ^ "Tory Burch expands into Japan and Korea". Just Style. April 1, 2009. Retrieved 29 October 2014.
  21. ^ "Designer Tory Burch Sells Minority Stake". The New York Times. 2009-07-24. Retrieved 2010-05-25.
  22. ^ Steigrad, Alexandra. "Battle of the Burches Over", Women's Wear Daily, 2012-12-31. Retrieved on 2013-1-1.
  23. ^ O'Connor, Claire. "Why Tory Burch Should Be Fashion's Next Billionaire - and How Her Ex Could Stop Her", Forbes, 2012-11-26 (online; in magazine dated 2012-12-10). Retrieved on 2013-1-1.
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  25. ^ Chitrakorn, Kati (November 27, 2018). "Tory Burch Buys Back Stake". Business of Fashion. Retrieved April 15, 2020.
  26. ^ Critchell, Samantha (September 13, 2011). "It's the season of newbies at NY Fashion Week". Associated Press. Retrieved 29 October 2014.
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  29. ^ Selene Milano (September 26, 2013). "Tory Burch Launches Her First Fragrance and Beauty Collection". InStyle.
  30. ^ "Best Sellers". New York Times. November 2014. Retrieved 5 January 2015.
  31. ^ Owens, Mitchell (March 11, 2015). "TORY BURCH COLLABORATES WITH SOCIETY'S FAVORITE CERAMIST, DODIE THAYER". Architectural Digest. Retrieved 20 March 2015.
  32. ^ Bray, Sarah (March 10, 2015). "The Preppy Porcelain That's Making A Comeback". Town & Country. Retrieved 20 March 2015.
  33. ^ Moratto, Rié (March 15, 2015). "Dodie Thayer Exclusive Iconic Lettuce Ware Collection For Tory Burch". Portobello Design. Retrieved 20 March 2015.
  34. ^ Stych, Anne (August 19, 2019). "Tory Burch, Japanese firm Shiseido partner on beauty brands". Bizwomen. Retrieved September 7, 2019.
  35. ^ Braun, Jennifer (October 26, 2021). "Tory Burch and Parsons partner on new scholarship fund". FashionNetwork.com. Retrieved February 5, 2022.
  36. ^ Manso, James (August 3, 2022). "Tory Burch Debuts Essence of Dreams Fragrance Collection". Yahoo!. Retrieved May 28, 2023.
  37. ^ Fratti, Karen (24 January 2024). "Inside Tory Burch's Purrrrrrfect Concept Store". Highsnobiety. Retrieved May 7, 2024.
  38. ^ Schmidt, Ingrid (January 23, 2024). "Tory Burch x Humberto Leon's New L.A. Pop-Up Features Hollywood-Loved Hoop Dress". The Hollywood Reporter. Retrieved May 7, 2024.
  39. ^ "Lafayette 148 Rings In Women's History Month With an Arty Collab". W. March 8, 2024. Retrieved May 7, 2024.
  40. ^ a b Steinberg, Don (May 30, 2024). "Tory Burch: A fashion reinvention". Time. Retrieved June 12, 2024.
  41. ^ Watts, Naomi (April 17, 2024). "Time 100: Tory Burch". Time.
  42. ^ Rosenstein, Jenna (August 19, 2024). "Tory Burch's New Fragrance, Sublime, Is a Compliment Magnet". Harper's Bazaar. Retrieved September 7, 2024.
  43. ^ Twersky, Carolyn (August 19, 2024). "Tory Burch's New Perfume Is Sensual, Complex, and Kendall Jenner-Approved". W. Retrieved September 7, 2024.
  44. ^ Friedman, Vanessa (July 30, 2015). "Tory Burch's New Tory Sport Line: First Look". New York Times. Retrieved May 4, 2020.
  45. ^ Tory Sport – Official website. TorySport.com. Retrieved September 18, 2015.
  46. ^ Sherman, Lauren (17 September 2015). "What Tory Burch Did Next". Business of Fashion. Retrieved 19 September 2015.
  47. ^ a b Haskell, Rob (23 July 2015). "Tory Burch on Her New Sports Line, Finding Love, and Redefining Success". Vogue. Retrieved 19 September 2015.
  48. ^ Friedman, Vanessa (30 July 2015). "Tory Burch's New Tory Sport Line: First Look". New York Times. Retrieved 19 September 2015.
  49. ^ Gonzales, Erica (March 23, 2016). "Tory Sport Opens Its First Store In New York". Harper's Bazaar. Retrieved 6 April 2016.
  50. ^ Goldstein, Tiffany (June 3, 2016). "Tory Sport Opens East Hampton Boutique". KDHamptons.
  51. ^ Halkias, Maria (September 3, 2016). "It's fall y'all: A look at new stores around North Texas, including Draper James". Dallas Morning News.
  52. ^ Lockwood, Lisa (July 13, 2017). "Tory Sport to Be Carried on Mytheresa.com". WWD. Retrieved September 5, 2017.
  53. ^ Silver, Dena (17 September 2015). "Tory Burch Discusses Her New Athleisure Label and Her All-Time Favorite Sport". The New York Observer. Retrieved 19 September 2015.
  54. ^ Shop by Sport. TorySport.com. Retrieved 19 September 2015.
  55. ^ Stych, Anne (May 23, 2019). "Tory Burch Foundation expands fellowships to include 50 entrepreneurs". BizWomen. Retrieved April 15, 2020.
  56. ^ Weisul, Kimberly (March 7, 2019). "How Tory Burch's Foundation Is Working to Get More Money, and Confidence, to Women Entrepreneurs". Inc. Retrieved April 15, 2020.
  57. ^ Holt, Emily (August 14, 2015). "Tory Burch Debuts Activewear Line, Tory Sport". Wall Street Journal.
  58. ^ "Tory Burch Names Pierre-Yves Roussel CEO". 11 December 2018.
  59. ^ Lockwood, Lisa (2 November 2020). "Tory Burch Names Thibault Villet as President of APAC". WWD. Retrieved 3 November 2020.
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  62. ^ a b Michael Shnayerson (2007-02-01). "An Empire Of Her Own". Vanity Fair. Retrieved 2014-10-18.
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  66. ^ La Ferla, Ruth (2008-07-08). "Forget Gossip, Girl; the Buzz Is About the Clothes". The New York Times. Retrieved 2008-08-14.
  67. ^ Kroll, Betsy (2007-02-27). "Pointe Guard". Time. Time Inc. Archived from the original on March 14, 2007.
  68. ^ Fisher, Lauren (October 13, 2014). "Preview: Tory Burch in Color". Harper's Bazaar. Archived from the original on 26 October 2014. Retrieved 29 October 2014.
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  70. ^ Moore, Booth (June 1, 2008). "Stylish, To A 'T'". Los Angeles Times. Retrieved October 29, 2014.
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  73. ^ "Tory Burch and Kerry Washington". InStyle. Time Inc. Archived from the original on 2008-10-09. Retrieved 2008-08-15.
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