In 2009, the American fashion brand had sold a minority stake of approximately 20 percent to the Mexico-based firm, chaired by Corona beer heiress María Asunción Aramburuzabala of the Group Modelo family.
Investors General Atlantic and BDT Capital Partners maintain a stake in the business, which they acquired in 2013, reportedly from Burch's ex-husband, the serial entrepreneur Christopher Burch.
Since launching in 2004, Tory Burch has grown into a billion-dollar business, with over 150 freestanding boutiques and a presence in more than 3,000 department and specialty stores. The American lifestyle brand expanded into wearable technology in 2014 via a partnership with Fitbit, and into athleisure in 2015 with Tory Sport. However, a surprise round of layoffs in the same year saw about 100 employees at its headquarters and stores lose their jobs. (The company said the move was part of a strategic pivot, in which it invested in technology, innovation and supply chain, hiring over 200 new employees.)
Tory Burch has been seen as a potential IPO candidate, but founder Burch has always dismissed the idea. There has also been speculation that the company could be an acquisition target for PVH, parent company to Calvin Klein and Tommy Hilfiger, or Coach-owner Tapestry.
Earlier this month, Tory Burch president John Mehas stepped down after two years at the company to join Victoria’s Secret as chief executive officer.