Famous for inventing “porn chic” and thus relaunching Gucci in the early 1990s through his ready-to-wear collections and his advertising campaigns, Tom Ford bowed out by selling his eponymous label. If he could not get 3 billion dollars, as some gave him that intention, he convinced Estée Lauder to value the Tom Ford brand at 2.8 billion dollars (2.7 billion euros).
For the American cosmetic giant (17.7 billion euros in turnover), this acquisition, the largest in its history, is primarily a guarantee to maintain the Tom Ford perfume business, which it has operated since 2006 under a license agreement. The Texas designer will provide the artistic direction of his brand until the end of 2023, Estée Lauder assures, suggesting a step back during this period.
Teamed with CEO Domenico De Sole, Tom Ford resurrected Gucci from its ashes to the point where he ignited…
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Source: Le Figaro
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.