Two big houses – one in the field of cosmetics and the other in the fashion industry – have joined hands with the news that has been making the rounds on the Internet for the last few hours.
With the acquisition of Tom Ford by Estée Lauder Cos Inc. against the amount of 2.8 billion dollars, the largest international media are currently engaged.
This is the biggest deal signed by Estée Lauder to date, which is adding to its portfolio, in addition to Tom Ford Beauty products, the ready-to-wear collections and the eyewear line.
Especially for the Estée Lauder Cos. Inc. group, which already owns well-known brands such as MAC, Clinique and Aveda, the acquisition of Tom Ford is added to the opening it has launched with a series of acquisitions to further strengthen it. Just last year it bought Canadian beauty products group Deciem for about $1 billion.
This is the first time the company is making a strong entry into the fashion space. The production of the clothing collections will be undertaken by the Italian house “Ermenegildo Zegna Group”.
It is worth noting that Tom Ford, who became famous as the Creative Director of Gucci and then Yves Saint Lauren in the 90s, founded his eponymous brand in 2005.
Following the acquisition by Estée Lauder Cos Inc., the designer will remain at the house as “creative visionary” until the end of 2023.
The great interest for the Estée Lauder Companies is focused on beauty products and Tom Ford perfumes, for which, of course, it had secured a license to sell them already in 2006.
For its part, the Italian group Ermenegildo Zegna will be licensed to produce and sell Tom Ford men’s and women’s collections, as well as accessories, underwear, jewelry, children’s wear and homeware, and will work closely with with Estée Lauder for “creative direction.”
