Photo: New York Times
Fidelity, the investment firm, took a 10 percent stake in C. Wonder, a company started by Chris Burch. Chris Burch is the ex-husband of Tory Burch with whom were involved in a nasty lawsuit which has since been settled. Fidelity paid $35 million for its 10 percent stake which gives the company a valuation of $350 million with only 10 retail locations. However, C. Wonder has aggressive expansion plans with its sight on 50-100 more stores by end of next year. It looks like we will be seeing a lot more of C. Wonder's colorful preppy apparel and home collection in the future.
Also, apparently Fidelity which is known for being one of the largest mutual fund operators has a fashion investment unit which makes investments in companies such C. Wonder and has made investments in Lululemon and Michael Kors in the past. Perhaps Fidelity is on to something as Michael Kors is now worth nearly $11 billion and Lululemon almost $10 billion.
Read More:
WWD (subscription red'q): Christopher Burch Sells C. Wonder Stake to Fidelity
Business Insider: Tory Burch's Ex Is Quickly Gaining Momentum With His Rival Brand
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