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Tory Burch

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Tory Burch
Tory Burch in India.JPG
Burch in India, 2009
BornTory Robinson
(1966-06-17) June 17, 1966 (age 52)
Valley Forge, Pennsylvania, U.S.
ResidenceNew York City, New York, U.S.
EducationUniversity of Pennsylvania (BA)
OccupationFashion designer
Chairman, CEO and designer of Tory Burch LLC[1]
Known forTory Burch line of clothing and accessories
Net worth$800 million (2018)[2]
Spouse(s)William Macklowe
(1993; divorced)
J. Christopher Burch
(1996-2006; divorced)

Tory Burch (née Robinson; born June 17, 1966) is an American fashion designer, businesswoman and philanthropist. She is the chairman, CEO and designer of her own brand Tory Burch LLC. She was listed as the 73rd most powerful woman in the world by Forbes in 2015.[3]

Early life and education[edit]

Burch was born in Valley Forge, Pennsylvania,[4] the daughter of Reva (née Schapira) and Ira Earl "Bud" Robinson (1923–2007).[5] She was raised with her three brothers in a Valley Forge farmhouse, a 250-year-old Georgian near Valley Forge National Historical Park.[6]

Her father was a wealthy investor who inherited a stock exchange seat and a paper cup company. He dated Grace Kelly and Joan Bennett before marrying Reva, an actress who had dated both Steve McQueen and Marlon Brando.[6] Burch is Jewish on her mother's side.[7][8]

Burch attended the Agnes Irwin School in Rosemont, Pennsylvania where she was a friend of jewelry designer Kara Ross.[9] Her first job was at Benetton in the King of Prussia mall.[9] She then attended the University of Pennsylvania, where she majored in art history, and graduated in 1988.[6]

Career[edit]

Early work[edit]

After graduating from college, Tory moved to New York City, where she worked for Zoran, a Yugoslavian designer,[6] followed by Harper's Bazaar magazine. She then moved into public relations and advertising positions at Vera Wang,[6][10] Polo Ralph Lauren and Loewe when Narciso Rodriguez was there.[11]

Fashion label[edit]

Burch began her fashion label – "TRB by Tory Burch", later known as Tory Burch – in February 2004, launching it with a retail store in Manhattan's Nolita district.[4][12][13]

As of 2018, it has grown to include 250 stores worldwide;[14] the fashion line is also carried at over 3,000 department and specialty stores worldwide.[15][16][17]

In 2015 Burch also introduced a separate performance activewear line, Tory Sport.[18][19][20]

Selected television appearances[edit]

Year Film Role Notes
2005 The Oprah Winfrey Show Guest April 4, 2005 episode
2009 Gossip Girl Herself Season 3, episode 4[21]
2010 Project Runway Guest judge Season 7, episode 6
2012 CBS News Sunday Morning Guest January 29, 2012 episode
Fashion King Herself Cameo
Iconoclasts Documentary subject Season 6, episode 4
2013 Today Guest September 26, 2013 episode[22]
2014 Good Morning America Guest October 14, 2014 episode
Charlie Rose Interviewee October 16, 2014 episode[23]
2015 CBS This Morning Guest November 18, 2015 episode[24]
2017 Charlie Rose Interviewee March 10, 2017 episode[25]
Morning Joe Guest July 10, 2017 episode[26]

Awards and recognition[edit]

In 2005, Burch won the Rising Star Award for Best New Retail Concept from the Fashion Group International.[4] In 2007, she won the Accessory Brand Launch of the year award at the Accessories Council Excellence Awards.[4][27] In 2008, Burch won the Council of Fashion Designers of America award for Accessories Designer of the Year.[28] Working Mother included her on their list of the 50 Most Powerful Moms of 2015.[29] In 2015, she received the Breast Cancer Research Foundation's Sandra Taub Humanitarian Award.[30][31]

Burch has consistently been included on Forbes' list of The World’s 100 Most Powerful Women.[32] As of 2015, she is listed as the 73rd most powerful woman in the world by Forbes.[3]

Philanthropy[edit]

Burch at the 2009 Vanity Fair celebration for the Tribeca Film Festival

Burch serves on the boards of the Council of Fashion Designers of America,[33] the Society of Memorial Sloan-Kettering Cancer Center,[34] the Breast Cancer Research Foundation,[35] the Startup America Partnership[36] and the Barnes Foundation.[37] She is a member of the Industry Advisory Board of the Jay H. Baker Retailing Center at the Wharton School of Business,[38] and a member of the Council on Foreign Relations.[39] She chaired the 2007 spring gala for the American Ballet Theatre.[40]

In 2009, Burch founded the Tory Burch Foundation, which supports the economic empowerment of women in the U.S. through small business loans, mentoring and entrepreneurial education.[41][42] The foundation is currently partnered with ACCION USA, a non-profit domestic microfinance provider founded in 1991.[43][44][45] Burch’s stores sell products whose proceeds support the foundation’s work.[46]

Among its initiatives, the Tory Burch Foundation offers an entrepreneurial education program, in collaboration with Goldman Sachs 10,000 Small Businesses and Babson College. The foundation also offers a fellows competition providing women entrepreneurs a chance to compete for business-education grants, year-long mentoring, and a $50,000 grant plus a $50,000 no-interest investment in their business.[47]

In 2014, the foundation launched Elizabeth Street Capital, an initiative with Bank of America, to provide women entrepreneurs with access to low-cost loans, mentoring support and networking opportunities. The initiative, originally named for the location of the first Tory Burch boutique, is now known as the Tory Burch Foundation Capital program.[48] By November 2017, Bank of America had committed a total of $50 million to the program.[49] As of 2018, the program is facilitating $1 million in loans each month,[50]</ref> and has provided over $36 million in loans to more than 1,775 women.[51]

In April 2014, the Obama Administration named Burch an inaugural member of the Presidential Ambassadors for Global Entrepreneurship, a group of successful American businesspeople committed to developing the next generation of entrepreneurs in the U.S. and around the world. Other members of PAGE include Reid Hoffman, co-founder of LinkedIn, and entertainment producer Quincy Jones.[52]

In March 2017, to coincide with International Women's Day and Women's History Month, the Tory Burch Foundation launched Embrace Ambition, a global campaign to address the double standard that exists around ambition, which is often seen as a positive trait in men and a negative one in women. The campaign includes a video PSA featuring a variety of celebrities, both women and men.[53][54][55] In September 2017, Burch wrote an opinion piece in Time on pay equity for women, noting how equal pay benefits society and business across the board.[56] In April 2018 Burch and her foundation hosted the first Embrace Ambition Summit, an all-day event supporting women’s ambition and examining stereotypes about women and ambition in the workplace, at Lincoln Center in New York and also viewable on the Tory Burch Foundation website.[57][58][59][60][50]

Personal life[edit]

In 1993 she married William Macklowe, son of real-estate tycoon Harry B. Macklowe, and was divorced within a year.[61] In 1996 she married J. Christopher Burch,[62] an investor in Internet Capital Group, a venture capital firm founded by Walter Buckley and Ken Fox. They have three sons: Henry, Nicholas "Nick", Sawyer. She also has three stepdaughters from his previous marriage. They divorced in 2006. She continues to use his last name, and for some time continued to live with her children in their New York City apartment.[63]

She dated Lance Armstrong in 2007.[64][65] Afterward she was for some time linked to Lyor Cohen.[66][67][68] In early 2016 Burch became engaged to Pierre-Yves Roussel, the chairman and CEO of the LVMH Fashion Group. The couple had been dating since 2014.[69]

Forbes magazine has estimated that she is a billionaire, with a net worth of $1.0 billion as of 2013.[70]

References[edit]

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  3. ^ a b "The World's 100 Most Powerful Women: #73 Tory Burch". Forbes. Retrieved June 5, 2015.
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  5. ^ Lutz, Ashley (February 11, 2014). "How Tory Burch Became A Fashion Billionaire In Less Than A Decade". Business Insider.
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  7. ^ "New York City - Examining The 'Halacha' If Jewish Fashion Mogul Needs A 'Get'". Vos is Neias. November 2, 2008.
  8. ^ Grigoriadis, Vanessa (December 2012). "Tory Burch's Ex Factor". Vanity Fair.
  9. ^ a b O'Halloran, Caroline (March 18, 2011). "Rock star ascending: Main Line-bred jewelry maker Kara Ross". Mainline Media News. Archived from the original on April 11, 2013. Retrieved March 26, 2013.
  10. ^ Kroll, Betsy (September 21, 2007). "Tory's Turn". Time. Retrieved August 14, 2008.
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  15. ^ Clifford, Catherine (May 12, 2017). "Why one exec passed up the chance to be president of this $127 billion company". CNBC. Retrieved May 17, 2017.
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  30. ^ "Symposium and Awards Luncheon October 29, 2015". BCRFcure.org. Breast Cancer Research Foundation. Retrieved November 6, 2015.
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  33. ^ "CFDA Organization". CFDA.com. 2014.
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  41. ^ Tory Burch Foundation website
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  69. ^ Friedman, Vanessa (January 4, 2016). "Tory Burch and Pierre-Yves Roussel Become Fashion's Newest Power Couple". The New York Times. Retrieved January 4, 2016.
  70. ^ O'Connor, Clare (January 3, 2013). "Fashion Tycoon Tory Burch Becomes A Billionaire (Thanks, In Part, To $200 Ballet Flats)". Forbes. Retrieved January 7, 2013.

External links[edit]