The poker around the fashion house Tom Ford seems to be going into the decisive phase. According to press reports, both the French luxury goods group Kering SA and the US cosmetics giant The Estée Lauder Companies Inc. are interested in taking over the brand. All companies involved have not yet commented on the subject.
On Thursday, business daily The Wall Street Journal (WSJ) exclusively reported that Gucci parent company Kering was “in advanced negotiations” to buy Tom Ford and an agreement could be imminent. The newspaper referred to unnamed people who were “familiar with the matter”.
Trade magazine Women’s Wear Daily (WWD) responded with an article that also said Estée Lauder was “still in the running” and preparing a formal offer for Tom Ford. The deadline for this ends in the current week, explained WWD, citing anonymous sources.
Estée Lauder holds the cosmetics license from Tom Ford and reportedly expressed interest in acquiring the fashion house back in the summer. At the time, the possible purchase price was estimated at at least three billion US dollars. According to reports, designer Tom Ford has been considering selling his eponymous company since the beginning of July. Since then, however, the corresponding reports have not been officially confirmed by any party.