US footwear and womenswear brand and retailer Tory Burch has sold a minority stake to investment firms BDT Capital Partners and General Atlantic LLC.
The size of investment has not been revealed, however founder and chief executive Burch said it would be used to drive growth for the brand.
Tory Burch, which launched in America in 2004, is currently sold in around 1,000 wholesale accounts in locations including the US, Asia and Europe. UK stockists include Net a Porter and Harrods.
Burch said said BDT was “completely aligned with our long-term approach to building our brand and share our vision for growth globally.”
It was first revealed in 2011 that Tory Burch was looking to sell a minority stake in the brand fuelling speculation about an initial public offering.