American fashion designer, businesswoman, and philanthropist Tory Burch is going digital. The mother-of-three is reorganizing her business to put more emphasis on digital initiatives and investing in customer-facing technology, according to Biz Journal.
Not only is Burch focusing funds on technology, but also new businesses such as Tory Sport. She has plans to open a permanent freestanding Tory Sport store in the Flatiron District of Manhattan in March. The fashion designer has also introduced new product categories including fragrances and watches, which are licensed to The Estee Lauder Cos. and Fossil, respectively.
Burch currently It currently is operating a Tory Sport pop-up store at 257 Elizabeth St.
Most recently, Burch launched a new fellowship aimed at female entrepreneurs. The program, which Burch announced last month on “CBS This Morning,” will run through the Tory Burch Foundation, which has granted $10 million for projects since 2010.
To apply for the fellowship, you have to be a woman, of course, with a business idea or startup that’s less than five-years-old. Thirty finalists will be featured on the foundation’s site for the public to vote for their favorites in March and April. Ten fellows will be selected according to the evaluation criteria, which includes online voting. In June 2016, the fellows will participate in a three-day workshop in New York City hosted at the Tory Burch Headquarters. This will include mentorship, keynote speakers and an opportunity to meet Burch. Additionally, fellows will participate in a pitch competition before a panel of judges to determine one winner for a grant investment of $100,000. The ten fellows will then be part of a one-year program that provides business guidance from the Tory Burch Foundation.
Applications will be accepted from Nov.18, 2015 through Jan.12, 2016. To enter, log on to www.toryburchfoundation.org and click on the competition banners, buttons and/or links to access the online application form.