The $2.25 billion Tom Ford Has A New Owner and A New Creative Director

The Estée Lauder Companies Completes Acquisition of the Tom Ford Brand.

The Estée Lauder Companies Inc. 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. (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 Tom Ford brand, now owned by The Estée Lauder Companies, announced the appointments of Guillaume Jesel to President and CEO, Tom Ford, and Peter Hawkings to Creative Director, Tom Ford, effective at the closing of the acquisition.

Tom Ford and Domenico De Sole will continue to serve as brand advisors through the end of calendar 2023. About the new leadership appointments, Tom Ford said, “I could not be happier with the acquisition of the TOM FORD brand by The Estée Lauder Companies. The team there has been a great partner and Guillaume is an exceptional leader, with not only a strong business understanding of beauty, but a great understanding of fashion as well.

“I am also pleased that the Zegna Group will continue to manufacture and distribute TOM FORD fashion and accessories, and operate retail for TOM FORD FASHION. I have worked closely with Zegna for more than 30 years, first at Gucci, then at Yves Saint Laurent. When contemplating the creation of the TOM FORD brand there was simply no other partner that we would have turned to, to produce high quality fashion products and a flawless retail experience.

“Marcolin has been an excellent partner in producing and distributing TF eyewear since the inception of the brand and I have enjoyed close collaboration with Maurizio Marcolin and his talented team for many years now.

“These companies, under the brand stewardship of The Estée Lauder Companies, provide me with confidence that the TOM FORD brand will continue to be something that I will be proud of for many years to come.”

Domenico De Sole said, “I am delighted with this acquisition. We have had a long-standing partnership between the TOM FORD brand and The Estée Lauder Companies dating from the brand’s inception, as well as a close relationship with Gildo Zegna and the Zegna Group over the past 30 years. Given our long and successful histories together, I am certain that the two companies, together, will carry on the legacy that Tom and I have built over the past 18 years. I am grateful to Tom for his magnificent vision and leadership, and I thank our amazingly talented TOM FORD team for their dedication to and hard work for the brand.”

GUILLAUME JESEL NAMED PRESIDENT AND CEO, TOM FORD AND LUXURY BUSINESS DEVELOPMENT, THE ESTÉE LAUDER COMPANIES

Guillaume Jesel brings nearly a decade of successful brand leadership of TOM FORD BEAUTY to his new executive leadership position at the TOM FORD brand. As President and CEO of TOM FORD, Guillaume will have oversight across all verticals and set a holistic luxury strategy for the brand. Guillaume will report to ELC executive leaders Jane Hertzmark Hudis, Executive Group President, and Tracey T. Travis, Executive Vice President and Chief Financial Officer.

“Guillaume has been instrumental in shaping the luxury beauty sector of our business. His ability to articulate the TOM FORD brand has resulted in TOM FORD BEAUTY achieving remarkable global success, making him ideally suited to lead the TOM FORD brand into its exciting future,” said Fabrizio Freda, President and Chief Executive Officer, The Estée Lauder Companies.

Under Guillaume’s tenured leadership at TOM FORD BEAUTY, where he worked directly with Tom Ford and his team, the brand spearheaded iconic innovation and strategically expanded its global reach, firmly establishing TOM FORD BEAUTY as a powerhouse in luxury beauty. Since 2014 when Guillaume started with TOM FORD BEAUTY, he has led the brand to achieve strong net sales growth on a compound annual basis and significantly improved ranking in global prestige fragrance and makeup, respectively.

The TOM FORD brand announced that Peter Hawkings has been appointed Creative Director, TOM FORD.

Peter has been working alongside Tom Ford for nearly twenty-five years, most recently as Senior Vice President of TOM FORD Menswear. In his ascension to Creative Director, Peter will succeed Tom Ford with respect to his responsibilities as Creative Director of Fashion, including womenswear, menswear and accessory categories, assuming the role of lead designer for the fashion segment and fashion shows.

“In Peter Hawkings the brand has found the perfect Creative Director,” said Tom Ford. “Peter began working with me 25 years ago as a menswear design assistant at Gucci and rapidly worked his way up to become the senior men’s designer at the company when he left to join me at the TOM FORD brand. Since the creation of TOM FORD menswear, Peter has been instrumental in the success of the brand. He is an incredibly talented leader with tremendous industry experience, and his appointment gives me confidence that my commitment to creating fashion products with the highest level of design and quality will continue.”

Peter began his career in 1998 at Gucci under the helm of Tom Ford and worked closely with him on the development of the highly successful Gucci menswear collections. Peter left Gucci in 2006 to join Tom Ford in the launch of his eponymous brand where he was charged with overseeing the design and production of all categories of TOM FORD menswear including tailoring, sportswear, leather goods, and accessories.

“Peter is one of the world’s most accomplished menswear designers. His design experience working under Tom Ford is unparalleled and his commitment to quality is relentless,” said Guillaume. “There is no one more perfectly suited than Peter to carry the founder’s legendary creative vision into the future.”