THE WHAT? The Estee Lauder Companies (ELC) is said to be mulling a buy-out of beauty brand Tom Ford in a potential US$3 billion deal, according to a report by Reuters.
THE DETAILS The Wall Street Journal cited that ELC is especially interested in Tom Ford’s beauty business and could look to license the brand’s apparel offerings elsewhere.
ELC declined to comment on the matter.
THE WHY? The purchase would be the Clinique-parent company’s biggest acquisition yet, and ramp up its premium product offering as the appetite for luxury goods accelerates globally.