Monday
07.22.2024
2:48 PM
Login form
Search
Calendar
Entries archive

Africa Live News

Main » 2023 » May » 1 » The Estée Lauder Companies Completes Acquisition of the Tom Ford Brand
8:53 AM
The Estée Lauder Companies Completes Acquisition of the Tom Ford Brand


 ELC licenses the TOM FORD trademark to Zegna Group for fashion and accessories and Marcolin Group for eyewear

(BUSINESS WIRE) -- The Estée Lauder Companies Inc. (NYSE: EL) (“ELC”) announced today that it has completed its acquisition of the TOM FORD brand and is now the sole owner of the TOM FORD brand and all its intellectual property.

ELC’s stewardship and its licenses with Ermenegildo Zegna N.V. (NYSE: ZGN) (“Zegna Group”) and Marcolin Group provide continuity and allow for the further evolution of the TOM FORD brand as one of the preeminent global luxury brands of the twenty-first century.

As previously announced, the deal values the total enterprise at $2.8 billion. At closing, ELC paid approximately $2.25 billion. This amount was funded by cash on hand and proceeds from the issuance of commercial paper, as well as $250 million received from Marcolin. An additional aggregate amount of $300 million in deferred payments from ELC to the sellers becomes due beginning in July 2025. The remainder of the total enterprise valuation is reflected in the acquisition of TOM FORD FASHION by Zegna Group.

# # #

The forward-looking statements in this press release, including those relating to the benefits and other expectations for TOM FORD involve risks and uncertainties. Factors that could cause actual results to differ from those forward-looking statements include current economic and other conditions, including volatility, in the global marketplace, actions by retailers, suppliers and consumers, competition, the transition and ongoing success of the collaborative relationship of the parties involved in the acquisition and licenses, the abilities to implement the forward business plans, and those risk factors described in ELC’s annual report on Form 10-K for the year ended June 30, 2022.

About The Estée Lauder Companies

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of outstanding luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and


NIOD.

 

 

 

Permalink
https://aetoswire.com/en/news/2904202331916

 

Contacts

Media Relations:
Jill Marvin
jimarvin@estee.com

Investor Relations:
Rainey Mancini
rmancini@estee.com

 

Views: 52 | Added by: africa-live | Rating: 0.0/0
Total comments: 0
Name *:
Email *:
Code *: