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Estée Lauder to buy Tom Ford for over $3 billion

Estée Lauder to buy Tom Ford for over $3 billion

Estée Lauder is reportedly in talks to buy Tom Ford for a hefty sum, according to the Wall Street Journal.

 

US cosmetics giant Estée Lauder is reportedly considering an acquisition of luxury brand Tom Ford, reports the Wall Street Journal, citing unnamed sources. Estée Lauder is said to be “particularly interested” in Tom Ford’s beauty division, which it already licenses, the newspaper said.

 

Bloomberg reported last month that Tom Ford had hired Goldman Sachs for a potential sale. Still according to the Wall Street Journal, other suitors are also interested in buying the brand.

 

Tom Ford, whose path led him to Gucci and Yves Saint Laurent in the 2000s as artistic director, created his eponymous brand in 2004, focusing on cosmetics and fragrances. He launched the Tom Ford Black Orchid fragrance in 2006 and a mixed line in 2007, followed by the Tom Ford Beauty collection in 2011.

 

Estée Lauder said Tom Ford Beauty sales grew by double digits in its most recent third quarter, thanks in part to the launch of new fragrances, including Rose D’Amalfi. The multi-billion dollar acquisition of Tom Ford would make it its largest acquisition to date.

 

See Also

 

Read also > Estée Lauder sales forecast down : L’Oréal’s share price impacted

 

Featured photo : © Estée Lauder

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