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
Elizabeth Wellington
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.
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.
Do you really give a rat's a... about Tory Burch????? Get a life. These people are the 1% who are sucking the middle class dry. ;— rduexpress- As far as caring what these people do-who cares.
Actually, it is the government that is bleeding the middle class dry. You have a choice to buy or not buy their products. Government can take whatever it wants. You people keep forgeting that.— georgel - As billionaires go, she is rather easy on the orbits.— bobcitydoc
