Estée Lauder buys Tom Ford in $2.8 billion deal
Estée Lauder Companies has acquired Tom Ford in a deal valued at $2.8 billion as it seeks to build momentum in the “promising category of luxury beauty”. The brand’s ready-to-wear will be produced under license by Ermenegildo Zegna Group, which also owns Thom Browne, Vogue reports.
Ford, who founded his namesake brand in 2005, will continue to serve as the brand’s “creative visionary” until the end of 2023. Chairman Domenico De Sole will stay on as a consultant during that period.
“Estée Lauder Companies is the ideal home for the brand. They have been an extraordinary partner from the first day of my creation of the company, and I am thrilled to see them become the luxury stewards in this next chapter,” said Ford in a statement.
Estée Lauder Companies is best known for its makeup, skincare and perfume brands, such as Estée Lauder, La Mer, Mac and Clinique, and owns the beauty license to several luxury brands, including Tom Ford Beauty, which it launched in 2006.
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