The Strategist

Kering in talks to buy Tom Ford fashion house



11/07/2022 - 13:52



According to sources cited by The Wall Street Journal (WSJ), French business Kering SA wants to purchase fashion house Tom Ford.



Phillip Pessar
Phillip Pessar
They claim that purchase negotiations are "in process" and that a deal might be signed soon. The amount of the deal has not been announced.

The WSJ article reported in August that the American fragrance and cosmetics company Estee Lauder was in talks to buy Tom Ford. The transaction was worth more over $3 billion, according to estimates. It is still a mystery for which of the two businesses will purchase the fashion house.

Estee Lauder and the fashion house inked a license deal in 2005 to create and distribute a line of fragrances and cosmetics under the Tom Ford Beauty brand worldwide. It was revealed in July 2022 that Tom Ford asked Goldman Sachs to assist in the forthcoming potential sale.

source: wsj.com

 




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