Having opened her first overseas flagship, a two-story boutique in Tokyo’s Ginza neighborhood, Tory Burch is charging forward overseas with ambitious expansion plans.
The stylish designer, who serves as her own brand ambassador, aims to have overseas markets generate about 60 percent of the business — a major leap compared with the current figure of 10 percent. With annual volume said to exceed $200 million, the company expects Asia will eventually generate one-third of the privately held company’s volume, with Europe and the Middle East comprising another third, and the remainder coming from the U.S. Much of this global expansion has been made possible through an investment from Tresalia Capital, a Mexico City-based firm that took a minority stake in Tory Burch last year.
The plan is to open 30 stores in Japan alone over the next few years, including a flagship in Tokyo’s Aoyama neighborhood. Burch is also cooking up a way to break into the Chinese market. To further European sales, she is eyeing potential locations in Rome and London. There are also plans to open at least 15 stores in the U.S. this year. In December, Tory Burch opened its first outpost in Manila.
Count on Burch’s accessories to keep customers coming back. She recently tapped Justin Giunta as design director of jewelry, demonstrating her commitment to the category.
While Burch is often photographed on the social circuit and has appeared on such fashion-loving shows as “Gossip Girl,” she takes measured steps when it comes to her image. “It’s a fine line,” she said. “I don’t want to be too accessible. I want to maintain some mystique. I want to maintain a certain level of privacy.”