Tory Burch is staying private.
“I think being a private company is a luxury, and that is something I have always thought,” Burch said at the WWD Apparel CEO Summit in New York City on Tuesday.
“When I heard that Roger [Farah, her current co-CEO] might be leaving Ralph [Lauren], I called him out of the blue and asked him for breakfast, and two hours later I realised we were completely aligned with that,” she said.
“Everyone thought Roger came to us to [take] the company public,” she said, adding that she wants Tory Burch to remain “a private company as long as possible.”
And Farah never wanted to work at a public company again, Burch said.
That said, Burch — who recently launched her athletic wear company, Tory Sport — is still looking for opportunities for growth, just not for any reason.
“I think one important thing is that we don’t want to grow just for growth’s sake, it’s about the long term,” Burch said. “We want to see healthy growth, but it has to be the right growth. We’re constantly looking through that lens.”
Since Burch started her brand in 2004, it has grown into a multi-billion dollar company.
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