WSJ: Kering in talks to buy fashion house Tom Ford
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French company Kering SA wants to buy fashion house Tom Ford, reports The Wall Street Journal (WSJ) citing sources. The purchase talks are “in progress” and agreements could be reached soon, they said. The amount of the deal was not named.
In August WSJ reportedthat the American perfumery and cosmetics company Estee Lauder is discussing the purchase of Tom Ford. The deal was valued at more than $3 billion. Which of the two companies will ultimately acquire the fashion house is still unknown.
In 2005, Estee Lauder entered into a licensing agreement with the fashion house to develop and globally distribute fragrances and cosmetics from the Tom Ford Beauty line. In July 2022, it became known that Tom Ford had hired investment bank Goldman Sachs for a potential sale.
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