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C. Wonder CEO Chris Burch on the company’s strong expansion strategy in the U.S. as well as overseas.
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-- the Federal Reserve says that the median US households lost nearly thirteen 9% of its wealth.
From 2007 to 2010 OK -- through the financial crisis but our next guest says.
He's doing just fine he is growing and expanding his brand new brand no matter what joining us now -- -- Fox Business.
Is -- wonder CEO Chris -- and I say this -- wonder coming to a town near you when we first interviewed you last fall.
Actually it's more like early December with three stores.
Now you are expanding exponentially how many do you plan to open of your apparel and she she stores very preppy sort of Manhattan -- high and it's -- Beverly Hills -- bid for poor alike love the stuff in your store but how many do you plan to.
But we plan to open ten -- -- and it's really exciting because they -- to consumers actually embraced the idea of value.
And taste level and more importantly that the look of our product is pretty extraordinary in the way we do work but do our eye glances to our home product do anything and we're -- so you actually were the first people actually discover us you are so cute she came into our store.
You're you're young daughter was amazing job to point out things and he says why are different there and why don't we puts on fox and actually had never been on TV before night and you brought -- -- and now the world is embracing us what's really exciting is globally.
We've had a lot about reaches so we'll be a -- globally down the road as well OK so a total of I'm hearing 300 stores Chris how do you plan to do that and well what timeframe.
We you know over the next six shows will open -- 300 stores globally.
We believe the world -- a global marketplace but the US is so really the place -- all brands or start and that's where we have our creative capital.
And creatively that's what the US stands for so will design the product care manufacturer all over the world and open up all over the.
-- -- the once you're opening later you're already in SoHo here in Westchester your garden state plaza in New Jersey where people go to spend money.
-- opening in Newport Beach as I understand -- -- also opening fashion island which is in Southern California.
I should take Newport yeah and then Atlanta Time Warner Center -- New York.
Up wit when you were scoping out areas for this.
What do you look for who's -- client -- aiming to reach.
We love our you know.
We're very focused on women entirely on women we love that warrior woman that likes to work we loved that woman -- likes to stay home.
We always look for women in Iran -- -- come over 80000 dollars a year 100000 dollars a year but grass operational product where we're.
We love our logo are customer loves to see our -- so -- we like to.
We like to be a more classic areas of the country countries we area so more down to -- more more every day America.
We just it's like it's -- looking inside the store keep this video rolling when I walked in of people were dancing people have brought their own iPods you -- listen to your own music over the stereo.
They were handing out little free gifts it was an atmosphere where you didn't feel like people were judging you it felt Kozey.
And the price points most of the stuff under a hundred dollars now I can see why the west gestures -- the world.
And that the Newport Beach is at the world really like to see wonder in their town.
But to expand so exponentially and you've been doing this for a long time.
Would need a lot of money -- -- the big question your ex wife Tory -- you still have a 30% stake in Tory -- which you helped finance is a start up.
So very much the money behind this which is amazing.
What's at stake worth and would you trying get out of it to use some of that to -- -- wonder.
Well we are you know Tories to an extraordinarily well globally I'm very fortunate helped to found the company with my ex wife.
It's doing extraordinarily well around the world.
Bomb we're always open I'm always open up for investors are new opportunities as far as capital.
I'm at this moment we're you know I can't discuss that but on -- of course I always look to.
To move my positions -- different companies to finance new growth opportunities around the world and Tories and exciting com extraordinary company that's done well globally and actually has been embraced by Asia well.
You were very much a force behind it yeah that's why I like to stress that.
Of course her side saying now he's ripping us off it's plagiarism because you have a similar look what stated that Chris because she wonders -- seems a little bit different to me.
Well look on you have to understand night.
I started selling its sweaters doors during college campuses at Ithaca yeah had -- college and actually I was doing embroidered sweaters at that point.
Open up my first store in 1977.
Outside of Philadelphia -- a big apparel company there that when he and the Internet business technology business.
And got back into the the -- store business.
What -- is static and I believe probably -- -- static comes in that classic point of view is so.
I think that everyone has appointed you one that's what we're trying to do was very different thing that's where we're trying to offered the best product in the world extraordinarily bright extraordinarily fun unbelievable quality.
Manufactured.
-- globally in a way that is is very different.
We are all about my lifestyle and lifestyle of the people to work.
For a seeking of Chris is lifestyle which show -- issues that this is classic Chris they say love on them.
That is so typical Chris Chris outlook you sort of love you.
You know be -- -- but but what I like best about use your entrepreneurial spirit.
We've got an election coming up in November there are some who say that the current administration is not friendly to business you seem to have done just fine.
Do you have a horse in this race do you care what he's your philosophy is an entrepreneur because I want people to know you didn't start off rich at all.
No I mean night unfortunate came from the right kind of Stanley -- education.
And I put up -- on capitol on the very small amount of capital made it was good.
Look -- countries the best country in the world -- -- that really promotes Oxford -- creative capital.
And really helps us to grow a business I think.
That I'm I'm -- much more of on the Republican side of this is much more conservative I do think that tax issues an issue when I do think there's a lot of issues.
That doesn't allow us to compete with the Chinese and I worry spending so much in time in China.
That this government doesn't understand how important it is to grow businesses in the United States and internally capitalize them.
We'll have over 2000 employees of the next two or three years may be going to 220000.
And we are we believe an open border trade and things of that sort but which Obama has done yet which he is -- and there's a lot which Obama has done has been excellent but I think this country some really good shape and I think we're gonna have come a tremendous growth period in the future.
And it's happening before your eyes with -- -- wonder of the products right here again I am glad to give us credit I did notice assisted this as a business we've got to follow as a present that -- one day you go public will be there.
Thank you -- -- so much for everything anytime I could just -- Chris -- founder of CEO of -- wonder Czech government.
