Cosmetics Company Estée Lauder Is Set to Acquire Tom Ford

The Eestée Lauder Companies Inc. is readying to announce its acquisition of the Tom Ford brand in a deal valued at $2.8 billion, Business of Fashion reports. An official statement is expected to come as soon as Tuesday. 

This would be Estée Lauder’s biggest acquisition to date, and, notably, its first fashion brand. The company already owns Tom Ford Beauty, which it helped launch back in 2005, when the designer went off on his own and started his namesake company with Domenico De Sole. Ford expanded into ready-to-wear in 2010. With this latest acquisition, it will gain control of the brand’s apparel business as well, a first for the cosmetics company.

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