Later in 2012, Christopher Burch sold much of his 28.3 percent stake he had in his ex-wife’s fashion brand known as Rory Burch. The stake sold cost 650 million dollars. This made Chris join the list of billionaires on Forbes in the year 2013. Once he sold his share, he was finally able to eradicate lawsuits filed against him and claims which had started to threaten the future of his brand. They had divorced back in the year 2006, but effects of this started to be seen in 2011. This is the same year Chris had introduced C. Wonder that was dealing with clothing and gift chains resembling Tory’s brand, check this on bjtonline.com. He sold his products at a lower cost, unlike Tory.
After a while of trouble, they were able to solve their differences, and they settled late in 2012 the same time Chris was selling his stake. However, he was left with a small stake in the business. On February 2013, he sold a stake of 10 percent of his company C. Wonder to fidelity investments. Fidelity paid him 35 million dollars to acquire this stake. He has maintained a majority of the stake to date and has billionaire Len Blavatnik as an investor. Chris Burch has indicated that he wants to push his company beyond borders to the international market. He intends to open more than 300 stores allover the globe in a period of three years. For more reading, head over to businessinsider.com
The man has lots of interests when it comes to investing in firms with potential. He has so far invested in office supply firm popping, manufacturers of phone gadgets known as Aliph that own the Bluetooth handset Jawbone, wireless charging Powermat among other things. His daughters Alexandra and Louisa have joined the family business and have already launched fashion lines. The future for them is bright considering that they have both their parents to coach them on how they will go about the business owing to their experience.
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Touching on a different thing, Burch was raised in Pennsylvania. He has in the past admitted how poor he was in school. He used to be last in his elementary school because he found it difficult to concentrate and read. The teachers used to tell his parents how Burch was always absent minded while in class and this would break his future. Now that we are living in the future, we all know it did not break him. Probably the reason he was always absent minded was that he was thinking about how to start his empire which he already has. Related article on wsj.com.