Estee Lauder to buy Tom Ford in a deal valued at $2.8B
The Associated Press
Estee Lauder is acquiring luxury powerhouse Tom Ford in a deal valued at $2.8 billion. As part of the deal, Ermenegildo Zegna Group and Marcolin will enter long-term license agreements for Tom Ford fashion and Tom Ford eyewear, respectively. Estée Lauder is expected to pay roughly $2.3 billion, after a $250 million payment from Italian eyewear manufacturer Marcolin SpA. Under the agreement, Tom Ford, founder and CEO of Tom Ford International, will remain 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.
