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Tory Burch minority stake up for grabs

US footwear and womenswear brand and retailer Tory Burch is reportedly selling a minority stake fuelling speculation about a potential initial public offering.

According to the Financial Times company co-founder Chris Burch is looking to tell part or his entire stake in the company.

The company is also reportedly searching for a new chief operating officer and chief financial officer, which industries insiders told the FT could pave the way for an initial public offering in the next 12 to 18 months. However a company spokesperson denied it was considering an IPO.

In 2009, the company sold a minority stake of around 20% to 25%, to Tressalia Capital for at least $100m (£60m).

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