Tory Burch just hired the former president of Ralph Lauren as her co-CEO to help expand her $1 billion namesake brand, according to a report in The Wall Street Journal.
Roger Farah, who worked at Ralph Lauren from 2000 until this past May, will help bring Tory Burch LLC to new markets around the world and into new product categories, reports the Journal. Farah is known within the retail industry as a brilliant executive who helped propel Ralph Lauren's sales to $7.5 billion last year from roughly $2 billion in 2000.
The hire raises the possibility that Tory Burch LLC is looking to go public, though both Burch and Farah denied such speculation, according to the Journal. An IPO of Tory Burch LLC, where Burch will remain its biggest shareholder and chairman, could do well given the success of Michael Kors and Kate Spade in public markets.
Tory Burch is best known for her iconic "Reva Ballet Flats," named after her mother, which feature a metallic double-T on the toe and retail for $225 a pair. On the brand's website, "Tory's Favorites" include a $595 flannel satchel, $495 jacket and $595 boot.
Her ex-husband Chris Burch, who sold most of his stake in Tory Burch LLC last year, has been trying to build his own retail sensation called C. Wonder that carries merchandise reminiscent of her designs.
Contact Sapna Maheshwari at sapna.m@buzzfeed.com.