Burch is now eyeing the hospitality industry. In partnership with James McBride, Burch purchased a beach hotel at Sumba, an Indonesian island. The two spent an estimated $30 million in renovation and named the five-star resort as Nihiwatu. In 2016, the resort was voted by Travel + Leisure as the best hotel of the year.
Burch, in an interview with the Business Jet Traveler, said that he bought the hotel for his children and as something that they hope to preserve and offer back to the community. When you are in a beautiful place, you can do what can’t be done in other places such as going places where others haven’t reached, having a butler in each room, or building a spa below a waterfall. Burch expressed his amazement by how Nihiwatu had surpassed his expectations. He claimed that it is a rare reward since most of the time things go opposite of what was expected.
According to Wall Street Journal, Chris divides his time between The Hamptons, Miami, and Nihiwatu. The Indonesian resort has more than 25 private villas that include Raja Mendaka, which is Chris’ private home. This particular section has four additional villas having their own private pools, and the main house. Click on forbes.com for related article.
Chris is the CEO and founder of the Burch Creative Capital. Refer to fashionista.com for additional article. The investment philosophy of the firm mirrors Chris’ entrepreneurial values and vision for new opportunities, creativity, incubation, imagination, support, and a scale capable of coming up with businesses and disruptive brands having positive, direct and long-lasting impact on the lives of consumers.
Chris Burch’s success in business started in the late 1970s when he was still at Ithaca College. Together with his brother Bob, they started the Eagle’s Eye Apparel with only $2000. The business grew to $165 million-worth, and they sold it to Swire Group. After selling Eagle’s Eye, Burch invested in the Internet Capital Group and became one of the pioneer investors in the well-known IPO in the Internet realm. More of this on bjtonline.com.
Burch relied mainly on his abilities to find a click between implementation and innovation and kept on realizing unusual success. The success was based on his understanding of consumer behavior and experience in utilizing superior sourcing tools and direct-to-consumer conduits.
Burch contributes actively towards philanthropic initiatives and research. Among the foundations that he funds include NYU Langone, The China Social Work Association, Mt. Sinai Hospital in NY, The Henry Street Settlement, and the China Child Welfare League.
Continue reading about Burch and his works on https://ideamensch.com/chris-burch/