March 30, 2023

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Estee Lauder buys Tom Ford fashion brand for 2.7 billion euros |  Economie

Estee Lauder buys Tom Ford fashion brand for 2.7 billion euros | Economie

The fashion house of Tom Ford is owned by the American cosmetics group Estée Lauder. The acquisition includes an amount of 2.8 billion dollars (2.7 billion euros). Estée Lauder currently markets primarily cosmetics, but with the acquisition it appears to be taking the first step toward becoming a luxury goods group.

Founded by the American designer of the same name, Tom Ford was a coveted takeover target. In addition to Estée Lauder, Gucci owner Kering, among others, was also interested.

Of the $2.8 billion, Estée Lauder has only deposited $2.3 billion. The group is arranging another $300 million in payments it no longer has to make.

Italian eyewear maker Marcolin, which licenses sunglasses under Tom Ford’s name, is setting aside $250 million and will get a much larger license for it. Fashion house Ermenegildo Zegna takes over part of Tom Ford’s activities and continues to offer men’s and women’s fashion of the American designer under license.

Estée Lauder is known for its self-marketed skincare products. The American company also makes brands such as Clinique and La Mer, hair care brand Aveda and makeup by Bobbi Brown and MAC.

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