Estee Lauder to Acquire Fashion Brand Tom Ford for $2.8 Billion

 


Original Content- Business Upside 

Estee Lauder, the luxury cosmetics firm, will acquire the designer fashion brand Tom Ford for $2.8 billion, making it the biggest-ever acquisition. The company announced the deal on Tuesday.

Details of the Deal

Marcolin S.p.A, the Italian eyewear manufacturer, and Ermenegildo Zegna Group are about to enter license agreements for the fashion house and its eyewear section, respectively, on a long-term basis. Marcolin S.p.A will pay $250 billion for the deal, and the beauty company will likely pay $2.3 billion. The purchase is yet to get regulatory approvals which may take it to the first half of 2023.

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