Estée Lauder Companies (ELC) has become the sole owner of the Tom Ford brand and all its intellectual property. The conglomerate promises ‘further evolution of the brand as one of the preeminent global luxury brands of the twenty-first century’
Rumours of Tom Ford’s acquisition have been circulating since sumnmer, with Kering and Estée Lauder in the running to become sole owners of Tom Ford beauty, fashion and accessories.
On the 15th November, ELC announced it had won the race. Not only will the group maintain its hold over the manufacturing, marketing, and sales of Tom Ford Beauty it will also be licensing menswear and womenswear out to Ermenegildo Zegna Group (EZG) and eyewear to Marcolin.
These decisions have been made due to the existing infrastructure that each of these businesses have created with the Tom Ford brand in the past. ELC has been the beauty licensee since 2006, Thom Browne owners Zegna and eyewear specialists Marcolin have been connected with the brand for 16 years.
Not only are these existing structures remaining in place, Tom Ford will continue to serve as the brand’s creative visionary after closing and through the end of calendar 2023. Suggesting that the brand will not see huge creative shifts under new ownership.
On the acquisition, Tom Ford says: ‘I could not be happier with this acquisition as The Estée Lauder Companies is the ideal home for the brand. They have been an extraordinary partner from the first day of my creation of the company and I am thrilled to see them become the luxury stewards in this next chapter of the Tom Ford brand.’
Tom Ford Beauty first launched in 2006 with the cult fragrance Black Orchid. From there, the then-gimmick ‘Fucking Fabulous’ perfume, Boys & Girls Lip Colour and Bitter Bitch nail lacquer have become key SKUs in a fully fledged beauty brand turning over $200 million in annual sales every year since 2015.
‘We are honoured that Tom Ford has been part of our ELC family for more than fifteen years, from our first collaboration with the Estée Lauder brand to the launch of Tom Ford Beauty and through its most recent successes,’ says William P. Lauder, Executive Chairman of the Estée Lauder Companies.
And, his colleague Guillaume Jesel, President of Luxury Business Development says: ‘We are committed to driving the continued success of Tom Ford Beauty, and this exciting acquisition strategically positions us for future growth.’