Wednesday, December 2, 2015

A settlement in Burch vs. Burch

It appears the Tory Burch vs. Chris Burch show down has been handled.

A settlement in Burch vs. Burch

Designer Tory Burch , with her husband in 2005. Christopher Burch´s C. Wonder is the Specialty Accessories Retailer of 2012.
Designer Tory Burch , with her husband in 2005. Christopher Burch's C. Wonder is the Specialty Accessories Retailer of 2012.

It appears the Tory Burch vs. Chris Burch showdown has been handled.

Tory Burch announced Tuesday evening an agreement had been reached to settle all pending legal claims between the former fashion power couple.

In November of last year, Chris Burch, the man behind C. Wonder, sued his ex-wife, claiming her company tampered with his relationship with suppliers. He also claimed the Tory Burch brand tried to stop him from selling his stake in the wildly successful Tory Burch brand he helped found in 2003.  The couple divorced in 2006. Today the Tory Burch brand is worth about $800 million.

In November Tory Burch countersued, accusing C. Wonder of copying the "Tory Burch identity" and using her company's information to enrich himself at her comapny's expense.

More coverage
C. Wonder's offerings are dead ringers for luxury brands
Terrence Howard's secret settlement angers lawyer

C. Wonder fashions bear a-hard-to-ignore resemblance to Tory Burch ones, but they are sold at a fraction of the cost.

The terms of the deal are confidential, however, BDT Capital Partners LLC and General Atlantic LLC have been made minority investors.  Both Burches owned a 28.3 percent stake in the company. Chris Burch will remain an investor in Tory Burch's label. Although, according to reports, a spokesman for Chris Burch declined to reveal his remaining stake in it.

Word on the runway is it's only a matter of time before Tory Burch goes public.

Stay tuned in 2013.

Fashion Columnist
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Elizabeth Wellington Fashion Columnist
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