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00:00SHOULD BE A TECHNOLOGY COMPANY. THE RETAIL IS CHANGING. WE ARE GROWING IN EUROPE AND ASIA AND THE U.S. IT IS REALLY MEASURED GROWTH. EMILY: TECHNOLOGY, DOES IT MAKE YOU WANT TO PULL BACK FROM BRICK AND MORTAR? 108 STORES WHEN MORE OF US ARE ONLINE. TORY: I WATCHED E-COMMERCE AND PEOPLE THOUGHT I WAS CRAZY. THEY SAID NO ONE WOULD EVER BUY ONLINE. IT IS NOW 20% OF THE BUSINESS. THERE WILL ALWAYS BE ROOM FOR BRICK-AND-MORTAR AND IT WILL BE, HOW DO WE MAKE THIS EXPERIENCE SEAMLESS AND HOW DO WE MAKE THE CUSTOMER EXPERIENCE. HOW DO WE PERSONALIZE IT? DAVID: HOW MUCH OF THAT 20% OF YOUR BUSINESS IS MOBILE? TORY: WE SEE A BIG SHIFT GOING TOWARD MOBILE. THAT WILL BE MORE AND MORE IMPORTANT AS TIME GOES ON. WE ARE DEEPLY INVESTING INTO MOBILE. E-COMMERCE, SEVEN COME -- SEVEN COUNTRIES. WE ARE EXPLORING AS WE GO. STEPHANIE: CONSUMERS HAVE BECOME ADDICTED TO SALES. THE POWER HAS SHIFTED AND IN THE HANDS OF THE CONSUMERS WHERE IT USED TO BE IN THE HANDS OF DESIGNERS AND RETAILERS WHO CREATED THE GREAT PRODUCT. HOW DO YOU FEEL? TORY: I THINK DEPARTMENT STORES USED TO CONTROL EVERYTHING AND THEN IT BECAME THE DESIGNERS. 2008, IT GOT SUPER PROMOTIONAL IMMEDIATELY AND THE CUSTOMER GOT VERY ACCUSTOMED -- ACCUSTOMED TO THAT. PULL OUT OF PROMOTIONS, THAT IS WHAT WE HAVE DONE. WE WERE PROMOTIONAL AT THE RIGHT TIME. WE HAVE TO DO IT IN A MEASURED WAY AS WELL. EMILY: YOU NEED TO STAY RELEVANT AND REMAIN A BRAND THAT PEOPLE CARE ABOUT. TORY: AT THE END OF THE DAY, IT IS ABOUT PRODUCTS. IF WE DO NOT HAVE A GOOD PRODUCT, IT DOES NOT MATTER HOW WE ARE DOING OR HOW TECHNOLOGY DRIVEN WE ARE. IT IS ALL ABOUT RE-ENGAGING THE CONSUMER IN A DIFFERENT WAY. THEY HAVE SO MUCH ACCESS TO SO MUCH INFORMATION, THEY ARE PRICE SHOPPING. IF YOUR PARTING WITH SOMEONE AND THEY GO ON SALE, THERE ARE SO MANY DIFFERENT ELEMENTS AT PLAY. WE TRY TO JUST DO THE PROMOTIONS AT THE RIGHT TIME. EMILY: YOUR BEST PRODUCT RIGHT NOW? NEW TRAVEL BALLET, THE MINI. TORY BURCH IS STAYING WITH US. WHEN WE RETURN, CONSUMER SPENDING. THE BROAD LANDSCAPE OF RETAIL. ♪

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Tory Burch: Every Company Should Be a Tech Company

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