On Negativity, Ambition, and Building a Serious Business (Tory Burch)

Tory Burch shares how she built a global luxury brand from her New York apartment, emphasizing her operating principles around risk, culture, and purpose-driven growth. In conversation with Emma Grede, she details early decisions like pioneering e-commerce, navigating personal and business crises, and stepping down as CEO to refocus on design.

Early Launch and Contrarian Bets

Burch left a loved LVMH role after her third child to prioritize motherhood, developing her concept amid stay-at-home demands. She first pursued reviving 1960s brand Jacks—worn by Audrey Hepburn and Jackie O—but a quick rejection from founder Sally Hansen forced a pivot. Unable to secure preferred names, she launched Tory Burch unintentionally with her ex-husband handling Asia production.

Defying 2004 norms, she bet on direct-to-consumer e-commerce and a low-rent Elizabeth Street store, despite warnings no one would buy luxury online. Launching with 10 categories (another taboo), she relied on PR and social media over ads due to tight budgets from personal funds and 120 friends-and-family investors. Opening day during Fashion Week sold out inventory via word-of-mouth, validating her scrappy, customer-direct approach. Her vision: a global lifestyle brand funding a foundation, linking purpose to business despite investor skepticism.