Tory Burch's ex-husband Christopher just proved his new brand, C. Wonder, is here to stay.
Burch sold his 10 percent stake in C. Wonder to Fidelity for $35 million, according to a report by Evan Clark in Women's Wear Daily.
That gives the company an incredible $350 million valuation despite having less than 10 permanent stores. Tory Burch's 10-year-old brand is worth about $3.5 billion.
Burch has an aggressive expansion plan for C. Wonder, which looks very similar to the Tory Burch brand, but is much cheaper.
Burch plans to have 50 to 100 C. Wonder stores by the end of 2014, Clark reported.
Tory Burch accused Chris of copying her designs in a lawsuit, alleging that everything from the logo to the merchandise copied her namesake brand.
But Chris, a veteran retailer, implied that Tory had copied his aesthetic and pointed out that he gave her $2 million and advice to start her brand 10 years ago. In the end, the exes settled their lawsuit.
C. Wonder's rapid expansion means that it could soon be as influential as the Tory Burch brand.
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