What Is Tory Burch's Net Worth?
Tory Burch is a renowned American fashion designer, entrepreneur, and philanthropist with a net worth estimated at $1 billion. She built her wealth from her eponymous fashion company, revolutionizing the fashion world with her $200 ballet flats. Today, her 'preppy-chic' lifestyle brand brings in over $1.5 billion annually, offering everything from watches and fragrances to accessories.
Early Life
Born Tory Robinson on June 17, 1966, in Valley Forge, Pennsylvania, Burch comes from a Jewish background on her mother's side. Her father, an investor, owned a paper cup manufacturing business. Growing up in Montgomery County, Pennsylvania, she lived with her three brothers in a historic house. Tory attended Agnes Irwin School, where she befriended jewelry designer Kara Ross. She later studied art history at the University of Pennsylvania and joined the Kappa Alpha Theta sorority.
Career
After graduating from the University of Pennsylvania in 1988, Burch moved to New York City and began working for the Yugoslavian fashion designer Zoran. She advanced her career by joining the editorial team at 'Harper's Bazaar' and later transitioned into marketing and public relations roles for notable designers like Ralph Lauren, Vera Wang, and Loewe.
The Tory Burch Brand
In February 2004, Burch launched her clothing label 'TRB By Tory Burch' and opened a retail store in New York. Within a year, her online store was live. Despite operating out of her kitchen, Burch completed her first collection in just eight months. She quickly became known for her colorful tunics and ballet flats, pioneering the mid-2000s casual chic style. Her store sold out on its opening day, garnering attention from the fashion industry and celebrity fans. In 2005, she appeared on 'The Oprah Winfrey Show,' gaining a significant endorsement. That same year, she won the Rising Star Award for Best New Retail Concept from Fashion Group International. By 2007, her brand had expanded nationwide, with clothing and accessories available in prominent department stores like Neiman Marcus, Saks Fifth Avenue, Nordstrom, and Bloomingdales. The brand is characterized by its upscale casual, practical, yet chic designs, featuring the iconic 'T' design logo, colorful tunics, ballet flats, and boxy handbags. Her collections appeal to professional women and gained frequent appearances on the popular TV series 'Gossip Girl.' Burch won the Accessories Designer of the Year award in 2008 from the Council of Fashion Designers of America, outshining Marc Jacobs. Burch debuted at New York Fashion Week in 2011 and continues to showcase her runway collections globally.
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The Tory Burch brand experienced rapid growth and became a household name among American women. In 2013, she launched a fragrance with Estée Lauder and collaborated with Fitbit on wearable technology in 2014. She also released the book 'Tory Burch in Color,' and a watch collection with Fossil that year. By 2019, her brand expanded into beauty products in partnership with the Japanese company Shiseido. Today, there are over 350 Tory Burch stores worldwide, and her products are featured in over 3,000 department stores.
Another venture is her activewear line, Tory Sport, launched in September 2015. She opened the first Tory Sport store in the same retail space where she initially launched her brand. More stores followed across the US before the collection was integrated into the main Tory Burch brand. In 2015, she also expanded into home décor and kitchen accessories.
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Personal Life and Charity Work
Tory Burch has been married three times. She wed William Macklowe in 1993, but they divorced within a year. In 1996, she married Chris Burch, with whom she had three children. He co-founded Tory Burch LLC and served as co-chairman until their divorce in 2006. Despite her busy career, Burch prioritizes her role as a mother, earning recognition as one of 'Working Mother' magazine's '50 Most Powerful Moms of 2015.' In 2018, she married Pierre-Yves Roussel, who became the CEO of her company in 2019.
Burch is an active philanthropist, even before her fashion career. In 2009, she launched the Tory Burch Foundation to support women entrepreneurs with capital, resources, and mentorship. In 2019, Bank of America donated $100 million to her foundation. She has received numerous awards, including Glamour's Woman of the Year in 2019 and the Breast Cancer Research Foundation's Sandra Taub Humanitarian Award in 2015. She also serves on multiple boards, such as The Barnes Foundation, the Startup America Partnership, and the Breast Cancer Research Foundation.
