Andrea Felsted, Columnist

Tom Ford Is Now Estee Lauder's Big Fashion Challenge

The cosmetics company must work hard to keep this deal alluring.

November 16, 2022 at 9:59 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

Beauty is back.
Photographer: Anindito Mukherjee/Bloomberg

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Estee Lauder Cos Inc. has acquired the Tom Ford brand for $2.3 billion, seeing off competition from Gucci owner Kering SA.

No financial details have yet been disclosed for Tom Ford, but the price tag, and the fact that the lion’s share of the label is cosmetics and fragrance, indicates that the brand has been sold as a beauty business. These typically command higher multiples than fashion houses.