U.S.-based global cosmetic giant Estée Lauder Companies (NYSE:EL) inked a deal to acquire the iconic luxury brand, TOM FORD, in a long-awaited deal worth $2.8 billion. Benefits of the Fashion Deal Beating out Gucci owner Kering SA (GB:0IIH)(PPRUY) who was also seeking the Tom Ford brand, Estée Lauder will become the sole owner of the TOM FORD brand and all its intellectual property. The addition of TOM FORD’s successful iconic brands as well as its talented team will accelerate growth for Estée Lauder in the luxury space. Per the terms of the deal, Estée Lauder will pay approximately $2.
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