Estée Lauder Cos., in major beauty market consolidation, to buy Tom Ford for $2.8B

“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,” said William P. Lauder, executive chairman of Estée Lauder Cos., in a statement.Tom Ford

Per the deal, Tom Ford International CEO Mr. Ford will serve as the brand’s “creative visionary” after closing and through the end of 2023. “Ermenegildo Zegna and Marcolin have been spectacular longstanding partners as well and I am happy to see the preservation of the great relationship that we have built over the past 16 years,” he said.

Estée Lauder Cos. first launched Tom Ford Beauty in 2006 with a collection of fragrance, makeup and skin care. The advertising and positioning of the brand is modern and glamorous. “The brand continues to have strong momentum across channels and key markets resulting in a prestige fragrance ranking in the top 15 in the United States and top 10 in China.”

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