Estée Lauder Companies has acquired Tom Ford in a deal valued at $2.8 billion as it seeks to build momentum in the “promising category of luxury beauty.”
Estée Lauder Companies is best known for its makeup, skincare and perfume brands, such as Estée Lauder, La Mer, Mac and Clinique, and owns the beauty license to several luxury brands, including Tom Ford Beauty, which it launched in 2006.
The deal values the total enterprise at $2.8 billion. Estée Lauder Companies will pay approximately $2.3 billion now, net of a $250 million payment to ELC at closing from Tom Ford eyewear licensee Marcolin. $300 million in deferred payments will be due from July 2025., Estée Lauder slashed its forecast for the 2023 fiscal year due to Covid-19 restrictions in China, presenting “a greater challenge than expected”, leading net sales to fall 11 per cent to $3.
“As an owned brand, this strategic acquisition will unlock new opportunities and fortify our growth plans for Tom Ford Beauty. It will also further help to propel our momentum in the promising category of luxury beauty for the long term, while reaffirming our commitment to being the leading pure player in global prestige beauty.”
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