Estée Lauder Companies, the company that includes many famous brands of the beauty industry, bought the world-famous luxury fashion brand Tom Ford.
The two leading giants of the luxury industry decided to join forces. Estée Lauder Companies (EL), the world-famous company that has many beauty brands, announced that it has agreed with the US-based fashion brand Tom Ford, with which it has been in talks for a while.
BUY TOM FORD FOR $2.8 BILLION
According to the news of CNN Business, the company bought the American fashion and beauty brand for $ 2.8 billion. The deal is expected to be completed in the first half of next year.
It was stated that Tom Ford, who is the creative director, founder and also CEO of the brand, will continue to lead the “creative vision” of the brand.
Tom Ford and the Estée Lauder company have been partnering since almost the year the Tom Ford Beauty brand was founded.
In addition, it is stated that this agreement is of great strategic importance for the brand, while the founder of the brand, Tom Ford, for the brand of The Estée Lauder Companies. “An ideal home”stated that.
HADID BROTHERS WALKED AT THE TOM FORD FASHION
Previously, the Hadid sisters walked in Tom Ford’s fashion show at New York Fashion Week.
While the brothers, walking in the brand’s 2023 Spring-Summer fashion show, left their mark on the podium with their self-confident attitudes, they did not make the cut-out and sequin detailed designs stand out in their new collection inspired by the 1970s.