Estée Lauder Companies, the New York-based magnificence group, is reported to be poised to announce the $2.8 billion (£2.2 billion) acquisition of Tom Ford.
An announcement from the American cosmetics large could come as quickly as in the present day and the deal would mark the primary time it has acquired a vogue enterprise, though it has held an settlement with the Texan designer to create magnificence and perfume since 2005.
Tom Ford, a former artistic director of Gucci and Yves Saint Laurent, launched his namesake label with magnificence and perfume in 2005, including prepared to put on in 2010. The enterprise now incorporates males’s and ladies’s prepared to put on, eyewear, equipment, perfume and color cosmetics.
The enterprise appointed Goldman Sachs to oversee a potential sale course of earlier this 12 months with Estée Lauder Companies rising as an early favorite to purchase it.
However in latest weeks, it was believed that French conglomerate Kering may be within the body. A take care of Kering would have introduced Tom Ford again into the group (previously generally known as Gucci Group) the place he made his identify and raised hypothesis that he may be introduced again to oversee Gucci as soon as extra.
It is known that any purchaser would have the choice to stay working with Tom Ford on the head of the model.
Tom Ford’s label would sit alongside main international names within the Estée Lauder Companies portfolio, together with Clinique, Jo Malone London, La Mer, Mac and Bobbi Brown.