Estée Lauder to acquire Tom Ford

Estée Lauder is set to be the new owner of Tom Ford, in a $2.8 billion deal, reports Vogue Business.

Estée Lauder is set to take over luxury beauty and fashion brand, Tom Ford, as it strives to create momentum in luxury beauty- “a promising category”. The Ermenegildo Zegna Group, which also owns Thom Browne, will produce the brand’s ready-to-wear. “Estée Lauder Companies is the ideal home for the brand. 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,” said Ford in a statement.

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