Estee Lauder may acquire TomFord for over 20 billion yuan

Estee Lauder in talks to buy Tom Ford for over 20 billion yuan.

In early July this year, Bloomberg reported that Tom Ford was looking to sell, and the latest news was soon ushered in this information.

On August 2, according to the "Wall Street Journal" citing people familiar with the matter, Estee Lauder Group is negotiating the acquisition of luxury brand Tom Ford (Tom Ford), which may reach 3 billion US dollars (about 20.306 billion yuan) even more.

If the deal goes through, it would be Estee Lauder's largest acquisition ever. For the aforementioned news, Estee Lauder declined to comment, and Tom Ford did not immediately respond to media requests for comment.

Estée Lauder is particularly interested in Tom Ford’s beauty business, which has entered into a long-term licensing agreement and may seek to license the luxury brand’s clothing line elsewhere, according to people familiar with the matter.

Founded in 2005 by fashion designer Tom Ford, Tom Ford has a strong presence in the fashion industry. The brand is known for its menswear, and its product line also includes womenswear, handbags, cosmetics and fragrances.