Major merger news came out via the Wall Street Journal on Monday, after the outlet reported that Estée Lauder is in talks to buy Tom Ford, according to people familiar with the matter.
The news follows a Bloomberg report in early July that the fashion brand hired Goldman Sachs to explore a potential sale. If Estée Lauder moves forward, it would be the largest acquisition for the company, according to the WSJ.
The Estée Lauder Companies currently owns its namesake beauty brand, along with a slew of other lines, such as Clinique, Frederic Malle, GlamGlow, Jo Malone, La Mer, Le Labo, M.A.C. and more.
After working as creative director for Gucci and Yves Saint Laurent, Tom Ford opened his eponymous label in 2006, starting out with cosmetics and menswear before diving back into womenswear again.
Tom Ford is set to close out New York Fashion Week this year with a show scheduled on September 14. It comes after the brand canceled its Fall 2022 show in January due to Covid-19 cases in Los Angeles and in Italy, where clothes are designed and created, respectively. Ford told Vogue the cases resulted in the collection being incomplete in time for the show.
According to the WSJ, the beauty conglomerate is interested in Tom Ford’s beauty business and may license apparel. At the moment, Estée Lauder Companies already licenses Tom Ford cosmetics and fragrances.
