Tory Burch Might Have Just Gained A Very Powerful Ally
The designer was officially declared a billionaire, settled an acrimonious dispute with her ex, and saw her company valued at $3.5 billion.
Now, Burch might have a very powerful ally: LVMH Moët Hennessy Louis Vuitton.
Peter-Yves Roussel, CEO of LVMH, was spotted in the front row of Burch's fashion show yesterday, reports Women's Wear Daily.
The publication speculated that Roussel could be eyeing Burch's line as a potential investment. LVMH is the top luxury conglomerate in the world.
But Roussel was coy with WWD.
"I’ve got nothing special to say,” he told the publication. “I like what she does. That’s the only reason.”
Burch's company is rumored to be the fashion industry's next big initial public offering.
If that's the case, LVMH is smart to get involved now.