Estee Lauder to buy Tom Ford in deal worth $2.8 billion – KION546 | Rare Techy

Associated Press

Estee Lauder acquires luxury powerhouse Tom Ford in a deal valued at $2.8 billion. As part of the deal, Ermenegildo Zegna Group and Marcolin will enter into long-term licensing agreements for Tom Ford fashion and Tom Ford eyewear, respectively. Estée Lauder is expected to pay about $2.3 billion after paying Italian eyewear maker Marcolin SpA for $250 million. According to the agreement, the founder and CEO of Tom Ford International will remain the creative visionary of the brand after the closing and until the end of the 2023 calendar year. Tom Ford International chairman Domenico De Sole will continue as a consultant until then. time.