As the founder and CEO of Burch Creative Capital, one can have Chris Burch confused to someone who has had his success handed out to him, but he has been one remarkable story of starting small and gradually rise to extraordinary success. Chris was raised up in a middle-class family, and through his father, he developed an interest in business, this was due to his father’s distribution of both mining equipment and supplies. Later on, while pursuing his undergraduate studies at Ithaca College, Burch and his brother begun a business of selling sweaters to other students on campus. They named the sweater Eagle’s Eye. Armed with only $2000 they sourced sweaters at $10 and later sold them at $15 making a profit margin of $5 per each sweater they sold. Later on, as the business grew, Chris contacted a company to produce brand new sweaters in bulk so as to be able to meet the growing demand that had spilled to other campuses. In only a decade the business soon grew to a multimillion dollar company of about $140 million in sales. More to read on ideamensch.com.
As the company grew so did Chris Burch interest to invest in other businesses. His growing interest as an entrepreneur led him to found or co-found many internationally known business and retail brands. Among them are- C. Wonder and Tory Burch fashion label. The Tory Burch style is a fashion label that Chris Burch helped his wife to launch which later became a very successful business. As a business mogul, Chris Burch saw an opportunity in the hospitality industry and together with James McBride they bought a beach hostel in 2012. The beach hostel is suited in the Indonesian island of Sumba. This led them to spend $30 million on the cost of renovating it and upgrading it to a five-star resort named Nihiwatu in 2015. The Nihiwatu, the five-star hotel, turned into more than expected even to Chris Burch himself and went on to be identified as the best hotel in the world in 2016 by Travel + Leisure. Nihiwatu prides itself with 27 private villas and Burch’s private home. Check this on bjtonline.com.
In addition to his all this success, Burch is also a proud family man, and through his busy schedules, he has always spared time for his family. As a matter of fact when he bought the hostel, he did buy it having his family and children I mind. He now looks back at his achievements in life and is proud of himself as a billionaire. Additional article to read here.
For a related article click https://www.wsj.com/articles/tory-burch-co-founder-buys-miami-beach-tear-down-1489588776