4 695
Fashion Jobs
HUDSON'S BAY
Store Administrator
CDI · CALGARY
JOB BANK CANADA
Sales Supervisor
CDI · DARTMOUTH
JOB BANK CANADA
Sales Supervisor
CDI · NOBLETON
WINNERS
Retail Customer Service And Operations Coordinator Full Time Winners - Sparks Street
CDI · OTTAWA
WINNERS
Retail Merchandise Coordinator Full Time Winners / Homesense - Dover Pointe
CDI · NANAIMO
JOB BANK CANADA
Sales Supervisor - Retail
CDI · OTTAWA
HUDSON'S BAY
Associate, Asset Protection
CDI · EDMONTON
HUDSON'S BAY
Associate, Asset Protection
CDI · KINGSTON
HUDSON'S BAY
Associate, Asset Protection
CDI · PICKERING
HUDSON'S BAY
Associate Manager
CDI · BROSSARD
MICHAEL KORS
Sales Supervisor
CDI · POINTE-CLAIRE
JOB BANK CANADA
Sales Supervisor
CDI · RICHMOND
SEPHORA
Loss Prevention
CDI · VANCOUVER
WINNERS
Retail Visual Merchandise Coordinator Full Time Winners - Truro Mall
CDI · TRURO
WINNERS
Retail Merchandise Coordinator Fulltime Winnershomesense,Collingwood Centre
CDI · COLLINGWOOD
WINNERS
Retail Customer Service And Operations Coordinator Full Time Winners- Camrose Commons
CDI · CAMROSE
SEPHORA
Operations Consultant
CDI · MONCTON
ESSILORLUXOTTICA GROUP
Antoine Laoun - Opticien Étudiant
CDI · MONTREAL
INDITEX
Senior Coordinator - Transport & Logistics
CDI · MONTREAL
HUDSON'S BAY
Asset Protection Investigator
CDI · TORONTO
ESSILORLUXOTTICA GROUP
Licensed Optician-Mississauga, on-Lenscrafters
CDI · MISSISSAUGA
ESSILORLUXOTTICA GROUP
Sublease Associate Optometrist- Orillia, on- Pearle Vision
CDI · ORILLIA
Published
Nov 16, 2022
Reading time
2 minutes
Download
Download the article
Print
Text size

Estée Lauder to buy Tom Ford in $2.8 billion deal

Published
Nov 16, 2022

Estée Lauder Cos Inc announced on Tuesday it will buy Tom Ford for $2.8 billion, beating out French luxury conglomerate Kering who was also rumoured to be in the running to acquire the U.S. fashion label.


DR


As part of the agreement Tom Ford, founder and CEO of Tom Ford international, will continue to serve as the brand’s creative visionary after closing and through the end of calendar 2023. Domenico De Sole, chairman of Tom Ford international, will stay on as a consultant until that same time.

The New York-based cosmetics giant said the deal, its largest acquisition to date, will extend and expand Tom Ford's current relationship with Ermenegildo Zegna to include a long-term license for all men’s and women’s fashion, as well as accessories and underwear. As part of the transaction, Zegna will acquire operations of the Tom Ford fashion business "necessary to perform its obligations as licensee."

Furthermore, Tom Ford's current license with global eyewear manufacturer Marcolin will also be "substantially" extended. 

The amount to be paid by Estée Lauder for the acquisition is approximately $2.3 billion, net of a $250 million payment to the beauty company at closing from Marcolin. 

Estée Lauder already holds the license to Tom Ford Beauty, a fragrance and makeup line that Ford developed in partnership with the group and launched in 2006.

"We are incredibly proud of the success Tom Ford Beauty has achieved in luxury fragrance and makeup and its dedication to creating desirable, high-quality products for discerning consumers around the world,” said Fabrizio Freda, president and chief executive officer, the Estée Lauder Companies.

“As an owned brand, this strategic acquisition will unlock new opportunities and fortify our growth plans for Tom Ford Beauty. It will also further help to propel our momentum in the promising category of luxury beauty for the long-term, while reaffirming our commitment to being the leading pure player in global prestige beauty.”

The rumour mill first began churning about a possible sale of the Tom Ford brand back in July this year. One month later, it became apparent that Estée Lauder was the frontrunner to acquire the New York fashion brand, until FashionNetwork.com reported in early November that Kering had also shown interest in the sale.

​"[Estée Lauder] 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 of the Tom Ford brand," said Ford.

"Ermenegildo Zegna and Marcolin have been spectacular long-standing partners as well and I am happy to see the preservation of the great relationship that we have built over the past 16 years. With their full commitment, I trust they will continue the brand’s future as a luxury company that strives to produce only the highest quality fashion and eyewear.”

Copyright © 2024 FashionNetwork.com All rights reserved.