Tory Burch buys Tresalia stake
New York-based fashion brand Tory Burch is buying back its stake from Tresalia Capital, a private family investment company based in Mexico City.
The American fashion brand sold a minority stake of approximately 20 percent to the private family investment company, back in 2009.
At the time, Tory Burch said the company was thrilled to announce the new partnership.
"The team at Tresalia Capital has the same entrepreneurial values that our brand was built on. They have a great understanding of the vision we have for Tory Burch and the future of our company. I look forward to working with them as we continue to expand and diversify our brand on a global scale."
Now the ownership stakes of Tory Burch and its major shareholders - investment firms General Atlantic and BDT - which they acquired in 2013, will increase.
Launched in February 2004, Tory Burch has grown into a billion-dollar business with collections including ready-to-wear, shoes, handbags, accessories, watches, home and beauty.
It operates over 150 freestanding boutiques and has a presence in more than 3,000 department and specialty stores.
The company also has its own line of wearable tech, and most recently launched its first full touchscreen timepiece with the debut of the ToryTrack Gigi Touchscreen Smartwatch.
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