The Estée Lauder Companies has announced that it has signed an agreement to acquire the Tom Ford brand. The transformational deal will establish its longstanding partner, The Estée Lauder Companies, as the sole owner of the Tom Ford brand and all its intellectual property. Under the stewardship of The Estée Lauder Companies, the purchase of Tom Ford and the extension of its current licensing partners will allow for continuity and the further evolution of the brand as one of the preeminent global luxury brands of the twenty-first century. The deal values the total enterprise at $2.8 billion.

Under the agreement, Tom Ford, Founder and CEO of Tom Ford International, will continue to serve as the brand’s creative visionary after closing and through the end of calendar 2023. Domenico De Sole, Chairman of Tom Ford International, will stay on as a consultant until that same time. The deal will extend and expand the Tom Ford brand’s longstanding relationship with Ermenegildo Zegna N.V. (“Zegna”, or “Zegna Group”) to include a long-term license for all men’s and women’s fashion as well as accessories and underwear. As part of this transaction, Zegna will acquire operations of the Tom Ford fashion business necessary to perform its obligations as a licensee. The Estée Lauder Companies and Zegna will align closely on the creative direction to continue building on the luxury positioning of the Tom Ford brand.