WSJ: Estee Lauder close to buying Tom Ford
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Estee Lauder is close to closing a deal to acquire Tom Ford for around $2.8 billion. The Wall Street Journal citing own sources.
If negotiations don’t break down at the last minute, the deal could be announced as early as November 15, one of the sources said. In this case, for the cosmetics giant, this will be the largest purchase in the history of the company.
Estee Lauder’s interest in buying Tom Ford for the first time reported in August of this year. In early November, it became known that in the fight for the American fashion house turned on French Kering.
The New York corporation Estee Lauder is one of the leading players in the market of cosmetics, perfumes and skin care products. Her portfolio of brands includes MAC, Clinique, La Mer, Aveda, Jo Malone, Aramis and Tom Ford itself. In 2005, the company entered into a licensing agreement with the fashion house to develop and globally distribute fragrances and cosmetics from the Tom Ford Beauty line. According to WSJ sources, Estee Lauder is expected to maintain the current licensing agreements with Tom Ford, as well as enter into new ones for clothing and eyewear.
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