toryssance

mornin’ merry makers 👜👠🩰💄 👡

when emily sundberg wrote on feedme wrote about the relaunch of tory burch’s iconic reva flat, i was immediately taken back to high school. which made me realize that i kinda lost track of tory burch…

so i decided to do a brick & mortar brand deep dive.

i learned that what started as a single boutique in nolita in nyc in 2004 is now a global empire with 370+ stores & a nearly $2 billion valuation. all while maintaining a laser focus on women's empowerment. i clearly have missed a lot!

i truly admire how tory has built a strong business & an even stronger movement. she’s been powered by purpose since day 1. something she was actually advised against, but more on that later.

time to recap how we got to this tory-ssance!

history hits

let me hit you with 5 quick facts that'll make you sound like a tory burch expert:

1. tory launched the brand without formal design or business education, relying instead on style instincts & vision. she majored in art history & worked in pr.

2. founded in 2004 with a single boutique in manhattan's nolita district where inventory sold out on the first day. when she launched, she initially named it "TRB by Tory Burch," with "TRB" standing for her initials

3. exploded into the mainstream when oprah endorsed her line in 2005, calling her "the next big thing in fashion" (the website reportedly got 8 million hits the next day!)

4. she established the tory burch foundation in 2009 to advance women's empowerment and entrepreneurship. since then she's provided over $100 millions in loans to women entrepreneurs.

5. two of her husbands have been involved in her business journey. she started the company with first husband, chris burch, & his $2 million investment, and later married pierre-yves roussel (former lvmh executive) who she convinced to became CEO in 2019

strategy secrets

time to break this down using our trusty profiTABLE framework:

🛍️ products

tory's signature "boho-preppy" aesthetic propelled the reva ballet flat (named after her mother) to icon status, selling 5 million pairs by 2013. today's "creative reinvention" has evolved to include the hit "pierced" collection that’s crushing it. she’s also been strategic with pricing strategy reva flats now sell $348 (originally $195),reflecting the brand's luxury evolution.

📍 places

what started as a single boutique has expanded to over 370 stores worldwide with flagship locations in fashion capitals. she designs her stores for people to feel like they’re in her home. where she sells homeware now too. tory burch was also an early e-commerce adopter, giving the brand digital reach before many luxury competitors caught on. she’s got pretty strong wholesale game too.

👥 people

tory has built a family-first culture even as the company scaled globally. she initially started the company because she needed more time for her children. she’s since brought some of the kids into the fashion business. her brother robert isen is the chief legal officer. as previously mentioned both her ex & currents husbands were involved in the brand as well (at different times).

⚙️ processes

purpose drives everything at tory burch. in her words, "supporting women wasn't part of my business plan — it was my business plan." the foundation offers trainings, tool, capital, & fellows programs to support in all phases of the entrepreneurial journey. the program has it’s own logo a sunflower based on a treasured family keepsake. the foundation’s current goal is $1B invested in women entrepreneurs by 2030.

spicy stories

tory's journey has been fascinating:"

• initially tory was told “don’t ever say business and social responsibility in the same sentence.” advice she thankfully ignored.

• her ex-husband chris burch launched a competing very similar style brand called c. wonder after their divorce. they opened 32 stores with plans to get to 300, but dramatically failed & filed for bankruptcy. feel like this story is destined to become a movie.

• launched the global #embraceambition campaign on international women’s day 2017, featuring a star-studded psa with gwyneth paltrow, reese witherspoon, kerry washington, and more. encouraging women to proudly own their ambition, take the digital pledge, & challenge the double standard that ambition is celebrated in men but discouraged in women.

• in 2019, tory burch stepped down as ceo to focus on design, sparking a "toryssance" of renewed creative energy.

• the brand’s blog, “tory daily,” launched in 2009 made a comeback in 2023 on substack as “what should i wear?”

• in 2023, she debuted a bold fashion week collection that broke from the brand’s preppy roots, challenging beauty standards with chained purses, crochet totes, broken logos, asymmetrical hemlines, & chunky gold jewelry.

• her pierced pump went viral in 2024, embraced by celebs & fashion influencers. now comes in more styles including mules & slingback heels.

• in aug 2024, she launched a new fragrance, sublime, in collab with shiseido.

• the u.s. commerce department partnered with the tory burch foundation to promote inclusive capitalism and equitable economic growth.

• tory burch landed a spot on TIME's 100 most influential people in 2024

the tory takeaways

what sets tory burch apart is her masterful evolution from pr to designer to global lifestyle brand. maintaining relevance through economic downturns, changing fashion cycles, & the retail apocalypse that claimed countless competitors.

her comeback playbook has 3 key elements we can all learn from:

1. purpose drives profit: by making women's empowerment central to her brand from day one, tory created deeper customer loyalty & meaningful differentiation.

2. know when to lead & when to delegate: her willingness to bring in a ceo with complementary skills allowed her to focus on her creative vision & revitalization.

3. evolve without abandoning your roots: the revitalized reva flat perfectly demonstrates how to honor heritage while staying on trend.

tory's strategy reminds us that in retail, reinvention isn't about abandoning what made you successful, it's about evolving your strengths for a new era.

i’ll leave you with her most famous quote to set the tone for the week

“if it doesn’t scare you, you’re probably not dreaming big enough.”