Tory Burch’s Business Battle With Her Husband Finally Comes To An End
12:30 pm, January 2nd | by Meredith Lepore
For the past few months, fashion mogul Tory Burch and her ex-husband Chris have been in a nasty legal battle over his not being able to sell his stake in her company, Tory Burch LLC, and possible plagiarism of her designs from his new company C. Wonder. But now according to Women’s Wear Daily, Tory and Chris have agreed to settle. The “drunken WASP nest” (as the judge referred to it!) drama may now be over.
While it was very sad to watch this once-happy couple who launched a successful business together descend into this kind of animosity, especially when you think of their six children (three daughters from his first marriage, three sons they had together), as time went by their life seemed more and more like an episode of Revenge. First there were the insults: he accused her of being a socialite who didn’t know anything about business and couldn’t have succeeded without him. And then there were claims that a Russian billionaire was acting as a double agent and helping Chris steal secrets from Tory. My goodness, it’s like Homeland with more fabric swatches.
Chris Burch will still retain a stake in Tory Burch LLC, while two minority investors have also come on board. Calling the deal a ‘milestone transaction,’ Mr Burch said he was ‘confident’ in the New York-based brand’s ‘continued success’ as he stays on as a ‘significant investor.’
Clearly Tory wanted this very messy, public dispute to be over as soon as possible. She said in an interview with CNN in November:
“At the end of the day, my priority is with my business and my children. I have six children with Chris that he and I care about and that’s what I think about. But also [there is] my team that I look at and I think it is extraordinary what we have built together. My focus is finding a solution and hopefully we will get there and then we will be better for it at the end.”
It’s a great way for her to start a new year, which may also include an IPO (especially with the addition of more prominent investors).