- Estee Lauder Companies Inc (NYSE:EL) is in talks to acquire the fashion brand Tom Ford in a purported $3 billion deal, the Wall Street Journal reported.
- If realized, the deal will become Estee Lauder’s largest ever acquisition.
- The report further noted Tom Ford has many other offers as well and thus no guarantees the two sides will reach an agreement.
- Tom Ford founded his eponymous brand after serving as a creative director at Gucci.
- Estee’s executive had mentioned in its 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 previous acquisitions of the cosmetic company include Canadian beauty company Deciem Inc in 2021 and the Korean skin-care company Have & Be Co. in 2019.
- Also Read: Bill Gates, Jeff Bezos Unite To ‘Change The Course’ Of Neurological Disorder Impacting 6.5 Million Americans
- Price Action: EL shares are trading higher by 0.05% at $273.23 on the last check Monday.
- Photo Via Wikimedia Commons
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