Besides the fact that it's a little awkward for Chris, co-founder and co-chairman of Tory Burch, to have begun a competing lifestyle brand at all, industry insiders and shoppers alike couldn't help but noticing the similarities between the two labels' aesthetics. A few weeks ago there was even rumblings that Tory would soon be filing a lawsuit against Chris for trade infringement.
And now the drama has finally come to a boil, with Chris being forced to step down as Tory's co-chair, according to Page Six. Apparently, Chris was ordered out on February 22 in a "boardroom showdown," because of growing discontent regarding the similarities between his own brand C. Wonder and that of Tory's. While Chris is still a shareholder in the company that may not be the case for long, as, according to a source, "Barclays Capital remains engaged to sell his shares."
And that's not all: Tory is apparently demanding that Chris make some serious changes to his company. "Tory is working with Chris to avoid more brand confusion," a source told Page Six. "She is asking him to change his concept, which includes C. Wonder’s product, the design and the boutique." That's a tall order considering Chris' company is growing fast, with plans to open a second store in Columbus Circle come September.
"It remains Tory’s intent not to litigate--she is hopeful he’ll agree to change his concept," the source added. "Litigation would be the very last resort.” We hope, for their sake, that they won't have to take that last resort.
And let this be a lesson to anyone considering going into business with their spouse...