THE WHAT? Shares in Kering rose at the close of last week as rumors that the owner of Gucci was in the running to acquire Tom Ford swirled around the markets, according to a report published by Reuters.
THE DETAILS The Wall Street Journal reported that Kering was the favourite in the race to acquire the luxury fashion and beauty brand. The Estee Lauder Companies has also been linked to the sale.
THE WHY? Tom Ford has worked as Creative Director for both Gucci and Yves Saint Laurent in the past and its expertise in both luxury beauty and fashion is thought to give it the edge over Lauder.