Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Estee Lauder Companies Inc. announced on Tuesday, Nov. 15, that it has officially acquired Tom Ford SA for $2.8 billion. This will be its biggest acquisition to date.
Estee Lauder expects this deal to help the company build up its line of luxury offerings to customers, especially at this time when the demand for upscale apparel and accessories continues to be resilient even in the face of record inflation situation in the United States.
According to Reuters, the American cosmetics and skin care company’s stock dropped 17% at a close on Tuesday since the talks of the Tom Ford deal were reported in August. The New York City-headquartered luxury fashion label entered into negotiations with Estee Lauder just last week after defeating other companies that also bid for the sale, including Kering SA, which owns the Gucci brand.
Tom Ford was founded in 2005, and it is known for its high-end line of menswear. The store also offers women’s apparel, bags, perfumes, and cosmetics. The agreement is the latest in the list of Estee Lauder’s new acquisitions, with some recent purchases such as full stake control worth $1 billion in Deciem, which owns the Ordinary skincare.
“As an owned brand, this strategic acquisition will unlock new opportunities and fortify our growth plans for TOM FORD BEAUTY,” The Estee Lauder president and chief executive officer, Fabrizio Freda, said in a press release. “It will also further help to propel our momentum in the promising category of luxury beauty for the long-term while reaffirming our commitment to being the leading pure player in global prestige beauty.”
Under the deal, Tom Ford International’s founder and CEO, Tom Ford, will continue to be the label’s creative visionary until the end of 2023. Its chairman, Domenico De Sole, will also stay as a consultant for the same period.
“I could not be happier with this acquisition as The Estée Lauder Companies is the ideal home for the brand.” Tom Ford said in the release. “They have been an extraordinary partner from the first day of my creation of the company and I am thrilled to see them become the luxury stewards in this next chapter of the TOM FORD brand.”
