Tory Burch has laid off 100 employees, predominantly from corporate headquarters in NYC, reducing salary overhead by 3 percent. The axing is part of a massive reorganization for the brand, which announced it will be shifting focus from ready to wear to Tory Sport, the spin-off athleisure line that launched last year, including everything from the requisite yoga pant to quirky tennis dresses to post-workout lounge gear and a chic collab with Fitbit. The line is still finding its footing in the rapidly growing niche alongside other big name designers like Derek Lam and Rebecca Minkoff, and Net-A-Porter’s take on the category, Net-A-Sporter, which launched in July 2014. This news comes on the heels of rumors that her company planned to go public, which were recently dispelled by Burch.
