Estee Lauder, a cosmetics and skincare maker with a broad portfolio of brands, will also acquire fashion house Tom Ford.
The deal is supposed to be announced on Monday, November 14, writes the Financial Times, citing its own anonymous sources.
According to the publication, Estee Lauder entered the exclusive negotiations stage, as the main competitor, further alleging that buying Tom Ford -Kering Holding- failed in the negotiations.
The Kering holding includes such brands as Saint Laurent, Gucci, Balenciaga, Bottega Veneta, Brioni, Alexander McQueen and others.
In the Estee Lauder portfolio, in addition to its own brand, there are DKNY, Clinique, MAC Cosmetics, Aramis (only about three dozen owned companies).
The cosmetics corporation had a licensing agreement with Tom Ford prior to the purchase negotiations.
Experts estimate the potential of Estee Lauder’s deal to buy the fashion house at $2.8 billion.
If, after the results of the final four-month stage of negotiations, the parties come to an agreement, and the amount really is such, then for Estee Lauder this acquisition will be the largest in the company’s history.
Author:
Ekaterina Alipova
Source: RB
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