The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
A report in the Wall Street Journal said that the beauty conglomerate is in acquisition talks with the Los Angeles-based luxury fashion brand, which went on the market earlier this summer. Estée Lauder has long held the license to Ford’s cosmetics and fragrance lines, which he developed in partnership with the group. (In 2017, Tom Ford was on track to generate nearly $2 billion, including eyewear, fragrance, cosmetics, ready-to-wear, men’s and women’s accessories.)
Both Tom Ford and Estée Lauder declined to comment on the story.
If Estée Lauder were to buy Tom Ford, the group would likely choose to license the production and sales of non-beauty categories — including apparel and eyewear — to other companies. Regardless, such a deal would mark a change in strategy for Estée Lauder, which typically acquires pure beauty brands. It could also turn out to be its biggest acquisition ever. In recent years, Estée Lauder’s acquisition strategy has yielded mixed results. Securing the ownership of in an ultra-prestige brand like Tom Ford — which has experienced double-digit sales growth post-pandemic — is a less risky bet than a fledgling startup. For Tom Ford, selling to a longtime partner could make for a smoother transition.
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In partnership with Scott, Audemars Piguet is set to release a limited-edition version of its Royal Oak watch and a capsule collection of co-branded merchandise from the watchmaking house and Cactus Jack Records.
Farfetch’s chief executive José Neves is reportedly conferring with top shareholders, including Richemont and Alibaba, and JP Morgan about delisting the company, The Telegraph reported on Tuesday. A take-private deal could happen imminently as Farfetch’s stock remains under pressure, according to the report. The e-tailer’s share price has plummeted more than 80 percent since its 2018 IPO.
At The Business of Fashion’s VOICES 2023 gathering, Chanel’s global CEO Leena Nair outlined to BoF founder Imran Amed the vision she’s crafted during her first two years leading the iconic brand.
Across its 53-year history, international art fair Art Basel has been quick to innovate, catering to a rapidly developing art market and its customers. Today, it is utilising its expertise to help fashion and luxury do the same.