Is Tory Burch Going Public?
11:37 am, February 14th | by Hillary Reinsberg
Tory Burch is pretty much plastered to the news this week — she had her star-studded show at New York Fashion Week this morning and the story of her legal battles with her ex-husband grace the pages of the latest issue of New York magazine. Here’s the cherry on top: now everyone’s asking if she’ll go public.
With over $450 million in annual sales and 65 stores internationally, it’s a fair question to ask. And Michael Kors, a label you might put in her peer group, filed an extremely successful IPO in December. So, will Burch bite the bullet and cash out?
Sources tell WWD it’s a big no for now. Burch, they say, makes more than enough to satisfy her lifestyle — and isn’t interested in taking her business to the Wall Street banks just yet. That makes sense too. Burch’s ex-husband, a financier and venture capitalist, started a line called C. Wonder this year, that many allege is essentially a cheap Tory Burch copycat. Not exactly a shock that Burch, who’s noted recently how well everything’s going for her both in business and in life, doesn’t want to get caught up with finance world hobnobbing right now.