Tory Burch and her former husband, Chris Burch, have finally come to an agreement over their heated legal battle concerning his stake in the brand. Although few details have been disclosed, the pair – who founded the label in 2003, before their split in 2007 – have resolved all pending claims. Additionally, two minority investors have been brought on board – Capital Partners and General Atlantic.
The lawsuit was first filed by Chris Burch in October 2012, claiming that the American designer was trying to interfere with his attempts to sell part of his 28 per cent stake in the brand. She responded by arguing that the businessman’s new brand, C Wonder – founded after their divorce, was too similar to her own.
C Wonder makes us feel like a kid in a candy store by the way.
Chris Burch – who called the deal a “milestone transaction” – has retained a stake in the label, although it is not known how much he now owns, WWD reports.
A host of fashion names have shown their support to the designer and her case over the past few months, including Diane von Furstenberg and Anna Wintour.