It’s official: The Estée Lauder Cos. is the brand new owner of Tom Ford, marking the beauty giant’s first enterprise into the style world and its biggest deal ever.
Paying $2.3 billion to amass the posh fashion, beauty and eyewear brand, Lauder outbid rival Kering, which was reported earlier this month to be a front-runner for the corporate.
Ermenegildo Zegna Group and Marcolin SpA will enter long-term license agreements for Tom Ford fashion and Tom Ford eyewear, respectively. Marcolin has been the eyewear licensee since 2005, while Zegna has had the license for Tom Ford menswear since around 2006. Now, it is going to be answerable for all of Tom Ford’s fashion business.
The deal values the entire enterprise of Tom Ford at $2.8 billion....
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