AmEx’s bid to regain its loyal customers like Chris Burch

Sixty-four-year-old American businessman Christopher Burch was born in Pennsylvania to a middle-class Baltimore family. Chris Burch is an alumnus of Ithaca College. Chris and his brother Robert started out their first business venture Eagles Eye Apparel in 1976 while still at Ithaca College. The initial capital investment for Eagles Eye Apparel was $2000. The company bought sweaters for $10 and later sold them for $15. Chris found a factory that made preppy sweaters that he would sell on campus. The company then sold to other colleges and eventually opened retail stores across the state. Related article on bjtonline.com.

In slightly over a decade, the company grew to a nationwide brand with a net worth of $140 million in sales, opening up to 50 of its retail stores. The two brothers sold Eagles Eye Apparel partially to Swire Group in 1989. The brand was later entirely purchased by the Swire Group in 1998 amassing an average $60 million for Burch and his brother. Over the years, Burch invested in more apparel brands including the Tory Burch Company. Burch spent time incubating brands before selling them off. Burch also invested in real estate and video production. In 2008, Chris founded the Burch Creative Capital which was by then known as the J. Christopher Capital LLC. As of 2013, Burch’s net worth was estimated to be $1 billion. In 2014, Burch was on the Forbes list of America’s wealthiest men.  To read more about the diversity of his business investments, check burchcreativecapital.com.

Read about an entrepreneur’s getaway haven, check on this.

In a recent article by the Wall Street Journal, American express lost Christopher Burch, one of their most loyal clients since 1979, to JP Morgan & Chase. Christopher Burch switched almost all of his spending to the JP Morgan & Chase Sapphire Reserve Card.  For his new and follow investments, click on prnewswire.com.

Over the past few year, AmEx has been going through a rough patch and has been facing massive competition from the market. The new AmEx chief executive Stephen Squeri is faced with an uphill task of regaining lost clients. Stephen hopes to focus on a strategy that involves gaining back the clients they lost, keeping the rich and getting millennials on-board. Unlike the previous generations, millennials are not drawn to AmEx but somewhat swayed by banks and other companies providing such services. This strategy Stephen believes will help put AmEx back on top of the ladder.

Have a glimpse to one of his impressive investment visit http://www.businessinsider.com/chris-burch-nihi-best-hotel-in-the-world-2017-7