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November 16, 2022
The Estée Lauder Companies has announced it has signed an agreement to acquire the TOM FORD brand. The deal will establish The Estée Lauder Companies (ELC), as the sole owner of the TOM FORD brand and all its intellectual property. The deal expands on the already existing partnership between ELC and TOM FORD BEAUTY, first introduced in 2006.
Under the stewardship of ELC, the purchase of the TOM FORD brand and the extension of its current licensing partners will allow for continuity and the further evolution of the TOM FORD brand.
Tom Ford, founder and chief executive officer, Tom Ford International, will continue to serve as the brand’s creative visionary after closing and through the end of 2023. Domenico De Sole, chairman, Tom Ford International, will stay on as a consultant until that same time.
“I could not be happier with this acquisition as The Estée Lauder Companies is the ideal home for the brand,” says Ford. They 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. 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.”
The deal will extend and expand the TOM FORD brand’s long-standing 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 this transaction, Zegna will acquire operations of the TOM FORD fashion business necessary to perform its obligations as licensee. The brand’s current license with Marcolin will also be substantially extended.
“We are honored that Tom Ford has been part of our ELC family for more than 15 years, from our first collaboration with the Estée Lauder brand to the launch of TOM FORD BEAUTY and through its most recent successes,” says William P. Lauder, executive chairman, The Estée Lauder Companies. “ELC and TOM FORD share a deep appreciation for luxury, creativity, entrepreneurial spirit and a commitment to excellence, and above all, the extraordinary talent that fuels our businesses.”
The acquisition is subject to certain conditions, including regulatory approvals, and is expected to close in the first half of 2023.
Read more about:Estée Lauder
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