Tom Ford has officially reached billionaire status after beauty giant Estée Lauder acquired the designer’s fashion brand in a $2.8 billion deal.
The Estée Lauder Companies Inc announced on Tuesday it has signed an agreement to purchase the Tom Ford brand – which includes a vast empire of fashion, beauty, fragrance, and accessories – valued at $2.8bn. The global beauty brand said it will purchase Tom Ford for $2.3bn in cash and debt, plus $300 million in deferred payments to be paid out beginning in July 2025.
