|Image from businessoffashion.com|
MOM AND DAD!! PLEASE STOP FIGHTING!!! Tory Burch and ex-husband Chris are back at it again. Several months ago, Chris filed a suit alleging that Tory was attempting to impede the running of his new company, C Wonder. He also alleged that Tory was interfering with the sale of his 28% stake in her namesake company, which is worth about $600 million (which makes sense because with a stake that large comes some say and she wants to control from whom).
LAST WEEK Tory was alleging Chris stole trade secrets from her in starting his brand. Trade secrets may include anything from a client/investor list to names of suppliers. Yeah. That totally happened. There is no way Chris did not use the contacts he made at Tory Burch to launch. However, this gets fuzzy because they were married. Its not like he was an employee that walked in off the street and picked up a customer list. He probably brought a share of those contacts to the table as well. And as we know, business relationships often blur into personal where a contact could have become a “friend.” I think it happened, I just think Tory will have a tough time proving it.
AND NOW they are arguing about whether or not to take the company public. Tory says no. Chris says yes. I understand both sides. When you see companies like Michael Kors going public and a tripling its worth, its super tempting. Honestly, I think Tory Burch would easily garner Michael Kors figures BUT with an IPO goes the control of the brand. Tory is looking at it from a creative and emotional perspective, whereas Chris is looking at dollar signs, particularly now.
And you think divorce is rough…. I wonder if any amendments will be filed this week.
Source: The Daily Mail