Reviews: Luxury: Estée Lauder offers the American brand Tom Ford for 2.7 billion euros

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Estée Lauder, qui détient aussi les cosmétiques MAC, les soins du visage Clinique et La Mer ou les produits Aveda, mise notamment sur le succès des parfums de luxe Tom Ford aux Etats-Unis et en Chine. supplied by Tribune Estée Lauder, which also holds Mac cosmetics, clinical facials and sea or products Aveda, in particular on the success of luxury scents Tom Ford in the United States and China.

Decidedly, The luxury sector does not know the crisis. Estée Lauder, an American cosmetics group, announced Tuesday evening that it would buy the eponymous company of American designer Tom Ford for $ 2.8 billion (2.7 billion euros), that press information had Presented as a potential target for Kering.

According to the Wall Street Journal, other groups were in the running to buy Tom Ford, including the French company Kering, which already has the Gucci, Saint Laurent or Balenciaga brands. In early November, French Kering even seemed to be the favorite for this takeover. But last week, the luxury brand, founded by the stylist of the same name, finally entered into exclusive negotiations with the American Estée Lauder, according to the British daily Le Financial Times. According to the Wall Street Journal Estée Lauder was in talks from August 1 to acquire the fashion brand.

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Objective: to sell a billion dollars of products per year

following this acquisition, Tom Ford, 61, will remain until the end of 2023 the official creator of his company, specifies in Estée Lauder in a press release, hoping to close the operation In the first half of 2023. Texan of origin, the designer launched his business in 2005 after being artistic director at Gucci and Yves Saint Laurent.

Beyond his luxury ready-to-wear collections, he also brought his name to lines of beauty products, accessories and glasses. Being placed "under the stewardship" of Estée Lauder will allow "the continuity and evolution of the Tom Ford brand" as one of the world's luxury brands at the world level, the company said in a press release.

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The group expects Tom Ford Beauty to be able to sell for a billion dollars of products per year. Estée Lauder, which also holds Mac cosmetics, clinical facial care and the sea or Avesda products, in particular on the success of Luxury Tom Ford perfumes in the United States and China.

By putting their hands on Tom Ford, Estée Lauder thus acquires intellectual property rights on all its lines. Tom Ford Beauty's perfumes and make -up products were already the subject, since the launch of the line in 2006, of a license agreement with Estée Lauder. The company will no longer have to pay royalties for Tom Ford Beauty and will be able to take advantage of new sources of income by granting licenses itself. The agreement provides in particular for the extension and expansion of the license granted by Tom Ford to Ermenegildo Zegna for the lines of clothing, accessories and underwear. The license currently granted to Marcolin for Tom Ford glasses will also be extended.

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The most important acquisition ever made for Estée Lauder

Tom Ford estimated in a press release that Lauder was "the ideal house" for the brand. "They have been an extraordinary partner since the creation of my business and I am delighted to see them become the luxurious intendants of this new chapter of the Tom Ford brand," he said.

For Estée Lauder, it is also the most important acquisition ever made. Last year the luxury group had taken total control of the Canadian beauty products group DECIEM for around $ 1 billion.

(with AFP and Reuters)

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