Tory Burch

Summary

Tory Burch is an American luxury brand known for beautiful, timeless pieces. As a designer, Tory draws inspiration from art, her family and women globally. Her collections include ready-to-wear, handbags, footwear, accessories, jewellery, home and beauty. Empowering women is Tory’s guiding principle, underpinning her design philosophy, the company culture, and driving the work of the Tory Burch Foundation. When Tory started the company, giving back was part of her business plan. In 2009, she launched the Tory Burch Foundation, empowering women entrepreneurs by providing access to capital, education and community.

The company launched with a small boutique on Elizabeth Street in Manhattan and has since grown into a global business with more than 370 boutiques across North America, Europe, the Middle East, Latin America, Asia and Australia. In addition, the fashion brand is available at over 3,000 department and specialty stores worldwide.

Tory Burch has been recognized by the fashion industry with numerous awards including the CFDA for Accessory Designer of the Year- Accessory Brand Launch of the Year from Accessories Council of Excellence- and Rising Star award from Fashion Group International. In addition the Wharton School’s Jay H. Baker Retailing Center and Retail Leaders Circle’s honored Tory with its inaugural Retail Excellence Award for her industry leadership and support of women entrepreneurs. She has also received the Parsons School of Design’s Table Award for her contributions to the industry.

History

In 1998, Tony Burch majored in art history at University of Pennsylvania and for her first job, ”cold-called Zoran,” per Business of Fashion. ”Really interesting man and a beautiful designer. My mother wore his clothing. He said, ‘you can have a job, but you have to start in a week.’ So a week after I graduated, I moved to New York and started a full induction into fashion. It was a very interesting time…” Burch went on to work for Harper’s Bazaar, diversified to PR and advertising at Ralph Lauren, Vera Wang and Loewe, and then gave up her lucrative career to pursue her dream of fashion designing and opened her own store in February 2004 in Manhattan. The gamble paid off — Tory Burch almost sold out on opening day! There was no looking back. When Oprah Winfrey endorsed her brand in April 2005, citing Tony Burch “the next big thing in fashion” on The Oprah Winfrey Show, her website clocked eight million hits the following day.

The collections reflect the designer’s love of travel, visible in bright prints and detailing, showcased each season at New York Fashion Week. Per Time, ‘If Burch’s luxe ’60s- and ’70s-inspired designs are a manifestation of her high-fashion pedigree, the price tags are anything but. “I really wanted to fill a missing niche that I saw in the market at the time,” says Burch. “It was important to me that our clothes were easy to wear and were priced so women could afford them.’ Since, the company has grown to three hundred- odd stores worldwide, including flagships in New York, LA, London, Paris, Rome, Tokyo and Seoul, and her line of ready-to-wear, footwear, accessories, watches, home line, fragrance and beauty retailed in department and specialty stores including Saks Fifth Avenue, Bergdorf Goodman, Neiman Marcus, Nordstrom, Bloomingdale’s, Harrods, Harvey Nichols and Galeries Lafayette.  In 2009, the designer launched Tory Burch Foundation, a nonprofit to support the economic empowerment of women and partnered with Bank of America, through which the bank is giving a complete sum of $10 million in loans to female entrepreneurs. That year, Burch sold a minority stake in her company to private equity firm, Tresalia Capital, but finally bought it back in 2018. The designer published her first book, Tory Burch In Color, which became a best-seller and in August 2019, inked a collaboration with Shiseido to develop, market and distribute Tory Burch beauty products.

Burch had met Pierre-Yves Roussel, CEO of LVMH Fashion Group in 2012, when LVMH expressed interest in investing in her company. The two fell in love and Roussel took over as CEO of Tony Burch; the following year, the designer became executive chairman and chief creative officer of her eponymous fashion brand. Tory Burch is on the board of Council of Fashion Designers of America and has several awards to her credit including Rising Star for Best New Retail Concept from Fashion Group International and Accessory Brand Launch of the Year at Accessories Council Excellence Awards. She is also on Forbes’ List of The World’s 100 Most Powerful Women and the fashion brand has an estimated value of $1.5 billion.

During the Covid-19 pandemic, Tory Burch LLC shut down many of its stores across the globe and furloughed most of its employees—while continuing to pay for health insurance for its U.S. workers. Per Forbes, ‘While customers still mostly gravitate to the brand for its colorful sandals and tiny handbags, Tory Sport, the luxury sportswear collection it launched in 2015, has emerged as a bright spot. The company gave the line more prominent placement on its homepage, added a Loungewear Shop to the website…’ In sync with changing consumer needs, the brand established a presence on Tmall, Alibaba’s retail site and has revamped its global website network. And, all Tory Burch websites incorporate artificial intelligence to drive sales through personalised recommendations. Tory Burch also introduced virtual styling, which enabled consumers to make video appointments to see different items in the store. Per Forbes, Tony Burch stated, ‘We wanted to be strong, have grace under pressure, pivot and do what we could to salvage our business, and we did.’

Vision

Tory Burch’s vision is rooted in a profound commitment to empowering women, a principle that serves as the cornerstone of her design philosophy and company culture. From the very inception of her brand, Burch envisioned a fashion label that not only celebrated style but also fostered a community of support and growth for women. Her approach goes beyond aesthetics; it reflects a deep understanding of the challenges women face in both the workplace and the world at large. By creating pieces that embody strength and sophistication, Burch has crafted a brand that resonates with women striving to express their individuality while navigating the complexities of modern life.

In 2009, aligning her business endeavors with her mission of empowerment, Burch founded the Tory Burch Foundation. This initiative focuses on advancing women’s entrepreneurship by providing essential resources such as access to capital, education, and digital tools. The foundation is dedicated to breaking down the barriers that often hinder women from pursuing their ambitions, particularly in male-dominated fields. Through mentorship programs and community-building efforts, the foundation works to equip women with the skills and confidence needed to thrive in their professional journeys. Burch’s holistic approach underscores her belief that financial independence is key to unlocking a woman’s potential.

Beyond the tangible support provided by the foundation, Burch is committed to challenging societal stereotypes that hold women back. By amplifying women’s voices and stories, she aims to reshape perceptions and encourage a culture of inclusivity and empowerment. This vision is woven into the fabric of the Tory Burch brand, where every collection reflects her dedication to fostering a supportive community. Ultimately, Burch’s work transcends fashion; it embodies a movement toward greater equality and empowerment, inspiring women everywhere to dream big and redefine their possibilities.

Mission Statement

Tory Burch’s mission is centered around empowering women to pursue their passions and achieve their full potential. Through her fashion brand, she seeks to create not just beautiful clothing and accessories, but also a platform that celebrates and uplifts women’s voices. Burch believes that fashion should be a source of confidence, allowing women to express their individuality while navigating the complexities of their lives. This mission extends to fostering a supportive community where women can connect, share experiences, and inspire one another, making empowerment an intrinsic part of the brand’s identity.

A vital aspect of Burch’s mission is her commitment to social impact, particularly through the Tory Burch Foundation. Established to support women entrepreneurs, the foundation provides access to resources such as education, capital, and mentorship, addressing the barriers that often limit women’s opportunities. By tackling stereotypes and promoting financial independence, Burch aims to create a ripple effect of empowerment that extends beyond the fashion industry. Her mission is not only to transform the way women see themselves but also to drive systemic change that paves the way for future generations of women leaders and innovators.

Key Team

Tory Burch, Executive Chairman and Chief Creative Officer; CEO Pierre-Yves Roussel

Products and Services

Tory Burch offers a diverse product portfolio that combines style and functionality, catering to the modern woman’s lifestyle. The luxury fashion brand is known for its chic apparel, sophisticated handbags, and distinctive footwear, all characterized by bold colors, intricate patterns, and laid-back elegance. Each collection reflects Burch’s commitment to quality craftsmanship and timeless design, making her pieces versatile for various occasions, from daily wear to formal events. Additionally, Burch often draws inspiration from her travels and personal experiences, infusing her creations with a unique narrative.

In addition to her fashion line, Tory Burch provides a suite of services that enhance the customer experience. The luxury fashion brand emphasises personalized shopping through exceptional customer service, both in-store and online, ensuring that each client feels valued and understood. Furthermore, the Tory Burch Foundation offers valuable resources for women entrepreneurs, including workshops, mentorship programs, and access to funding opportunities. This holistic approach not only reinforces the brand’s commitment to empowering women but also fosters a community where customers can engage and grow together, making Tory Burch a brand that truly cares about its impact beyond fashion.

Awards and Recognition

In 2005, Burch won “Rising Star Award for Best New Retail Concept” from the Fashion Group International. In 2007, she won “Accessory Brand Launch of the year” at the Accessories Council Excellence Awards. The following year, Burch won the “Council of Fashion Designers of America Award for Accessories Designer of the Year.” In 2015, she received the Breast Cancer Research Foundation’s “Sandra Taub Humanitarian Award.” In 2020, she was listed as the 88th most powerful woman in the world by Forbes. Burch also serves on the boards of Council of Fashion Designers of America, Society of Memorial Sloan-Kettering Cancer Center, Breast Cancer Research Foundation, Startup America Partnership and Barnes Foundation. She is a member of the Industry Advisory Board of the Jay H. Baker Retailing Center at the Wharton School of Business and a member of the Council on Foreign Relations. 

References

• Official website Tory Burch
• Facebook profile of Tory Burch Facebook
• Obama Names Tory Burch, Reid Hoffman As Ambassadors For Global Entrepreneurship Forbes
• LinkedIn profile of Tory Burch LinkedIn
• Tory Burch and Parsons partner on new scholarship fund Fashion Network
• Twitter profile of Tory Burch Twitter
• How Tory Burch became a billionaire Forbes
• Parsons benefit 2022 Vogue
• YouTube profile of Tory Burch Youtube
• Brand History Tory Burch
• Tory Burch Foundation Inc.
• Wikipedia page of Tory Burch Wikipedia
• America’s self made woman Forbes
• Tory Burch Has a Message For Women Glamour
• Instagram profile of Tory Burch Instagram
• Tory Burch Forbes
• Tory Burch on Her New Sports Line Vogue
• Tory’s turn Time
• Tory Burch Receives Retail Excellence Award WWD
• Tory Burch says it pays to be generous, scrappy and a little stubborn Biz Journal