Tory Burch's #EmbraceAmbition initiative and its associated foundation are proving to be a powerful engine for female entrepreneurship, turning ambition into significant financial success.
Cassie Abel, CEO of the women's outdoor apparel company Wild Rye, credits the Tory Burch Foundation Fellows Program for crucial support during business challenges. Despite personal and global crises, Abel's company now boasts 11 employees and achieved over $4 million in sales last year. She was inspired by Burch's #EmbraceAmbition campaign, particularly the motto "Negativity is noise," which resonated with her own experiences as a driven athlete and student.
Burch launched the fashion line in 2004 with a long-term vision to build a global lifestyle brand that would enable her to establish a foundation. Despite initial investor skepticism about combining business with purpose, Burch founded the Tory Burch Foundation five years later. The foundation offers grants, networking, and support to female founders, with a goal to add $1 billion to the economy through women entrepreneurs by 2030. To date, it has contributed $342 million.
The foundation's fellowship program targets early-stage businesses and has supported 500 fellows who average over $2 million in annual revenue, significantly outperforming the average women-owned business. Success stories include Pilar Guzmán of Half Moon Empanadas, who is projecting $30 million in revenue this year, and Beau Wangtrakuldee of AmorSui, who secured significant contracts after receiving foundation support.
Burch acknowledges the significant personal toll of building her brand and foundation, describing the journey as "exhausting, challenging and at times brutal." Yet, her dedication to fostering economic impact for women entrepreneurs remains unwavering, demonstrating a powerful blend of business acumen and social mission.