- Estee Lauder Companies Inc THE is in talks to buy the fashion brand Tom Ford in a purported $3 billion deal, the Wall Street Journal reported.
- If it goes through, the deal would become Estee Lauder’s largest acquisition ever.
- The report further pointed out that Tom Ford has many other offers and thus there is no guarantee that the two parties will reach an agreement.
- Tom Ford founded his eponymous brand after serving as creative director at Gucci.
- Estee’s executive had mentioned in the third quarter earnings call that Tom Ford is among the few brands with double-digit sales growth and has high demand in China.
- Some of the cosmetics company’s previous acquisitions include Canadian beauty company Deciem Inc in 2021 and Korean skin care company Have & Be Co. in 2019.
- Read also: Bill Gates and Jeff Bezos team up to ‘change the course’ of neurological disorders affecting 6.5 million Americans
- Price Action: Shares of EL traded up 0.05% at $273.23 in late check on Monday.
- Photo via Wikimedia Commons
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