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Tag: Tom Ford

  • Estee Lauder to buy Tom Ford in US$2.8 billion deal

    Estee Lauder to buy Tom Ford in US$2.8 billion deal

    Estee Lauder Cos. Inc. said on Tuesday it agreed to buy U.S. fashion label Tom Ford for US$2.8 billion, its biggest deal yet, adding a line of beauty products and apparel to the Clinique brand owner’s portfolio.

    Luxury companies have so far enjoyed steady demand for their products, but cracks are starting to show as decades-high inflation forces some customers to tighten their purses.

    Estee said this month U.S. retailers were cutting stocks of its products amid worries of a demand slowdown and lowered its full-year forecasts, hurt by lockdowns in China.

    While Estee Lauder already sells Tom Ford beauty products and fragrances, the deal has raised some eyebrows on Wall Street.

    “Given the strength of Tom Ford Beauty, especially in EL’s most significant long-term growth market of China, we understand the appeal of the deal, but handling the fashion businesses leaves some questions,” Raymond James analyst Olivia Tong wrote in a note dated Nov. 14.

    The deal is the latest in a series of acquisitions by Estee Lauder, including taking control of Ordinary skincare brand owner Deciem last year for about US$1 billion.

    As of Tuesday’s close, Estee’s stock fell 17% since the deal talks with Tom Ford were reported by the media in August.

    Last week, Tom Ford entered into exclusive negotiations with Estee Lauder, beating competing bids from companies including Gucci owner Kering SA, the Financial Times reported on Friday.

    Estee expects to fund the transaction through a combination of cash, debt and US$300 million in deferred payments to sellers that become due beginning in July 2025, the company said.

    Chief executive officer Tom Ford will continue to serve as the brand’s creative visionary.

    Perella Weinberg Partners LP served as financial adviser to Estee, while Paul, Weiss, Rifkind, Wharton & Garrison LLP was its legal counsel. Goldman Sachs & Co. LLC was Tom Ford’s financial adviser and Skadden, Arps, Slate, Meagher & Flom LLP its legal counsel.

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  • Tom Ford Beauty Suria KLCC is now open

    Tom Ford Beauty Suria KLCC is now open

    Tom Ford Beauty has just opened its second free-standing store in Suria KLCC.

    The launch follows the opening of the brand’s flagship store in Covent Garden, London last year.

    The KLCC store features a layered grey glass sculpted design that casts rings of light on white marble slabs to showcase the beauty and skincare products on display. A key feature is a display of 100 Boys & Girls lipsticks.

    Buyers are invited to experience fragrance customisation, brow sessions, VIP masterclasses and bridal services.

    Private makeup services are available with the store’s beauty specialists by appointment.

    View interior gallery below (6 images) :

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  • Givenchy Beauty debuts in Korea with Hyundai

    Givenchy Beauty debuts in Korea with Hyundai

    Givenchy Beauty will open its first South Korean store this month.

    The cosmetics and skin-care line of the French luxury fashion house Givenchy has taken space in the Hyundai Department Store in the trendy southern Seoul district of Apgujeong.

    The first store will open on July 31 and a second, at another Hyundai Department store in Sinchon, northern Seoul, will open next month.

    With the huge growth of the Korean beauty industry over recent years, Givenchy Beauty believes its broad range of makeup, skincare and perfume products will appeal to local women comfortable spending on premium solutions.

    Once the Givenchy Beauty stores are open, Hyundai Department Store will become the first Korean retailer to host stores from five global premium beauty brands, the others being Dior, YSL, Chanel and Tom Ford.

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  • Estee Lauder Companies sales rises

    Estee Lauder Companies sales rises

    Led by double-digit growth in China and Hong Kong, Asia/Pacific sales increased sharply for Estee Lauder Companies for its first quarter to the end of September.

    It says the higher sales in China reflected strong gains for every brand except designer fragrances. Estee Lauder, Mac, La Mer, Tom Ford and Jo Malone led the sales growth.

    Sales benefitted, in part, from continued demand for makeup products, an acceleration in skincare sales and targeted expansion of consumer reach.

    Hong Kong’s increased sales reflected solid domestic growth and a rise in tourism. Growth was primarily driven by Estée Lauder, La Mer and Mac.

    Operating performance was lower in Japan.

    Overall, the company achieved net sales of $3.27 billion, up 14 per cent on the same period last year.

    Incremental sales from the company’s acquisitions of Becca and Too Faced contributed about four points of reported sales growth. Net earnings rose 45 per cent to $427 million.

    “Building on the global momentum of the past fiscal year, we benefitted from continued acceleration in China, Hong Kong, travel retail and global online, strength in several developed and emerging markets in Europe, and incremental sales from Becca and Too Faced,” says president/CEO Fabrizio Freda.

    “Our online and travel-retail channels and most luxury and mid-sized brands posted double-digit sales gains.”

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  • Travel retail boosts Estée Lauder Companies

    Travel retail boosts Estée Lauder Companies

    Beauty group The Estée Lauder Companies has reported double-digit sales growth in global travel retail for the second quarter of its latest fiscal year.

    This was generated by launch initiatives, global airline passenger traffic growth and new consumer coverage, the company says.

    Its Aveda, Jo Malone, La Mer, MAC and Tom Ford brands “contributed sharply” to the sales gains.
    An overall increase in make-up sales came partly through a broadening of the brands’ presence in travel retail, says the group.

    Total net sales of US$3.21 billion were achieved in the second quarter, a 3 per cent year-on-year increase.

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  • Offshore investor shows interest in FJ Benjamin

    Offshore investor shows interest in FJ Benjamin

    An international group is seeking to invest in Singapore brand-management company FJ Benjamin, which has such brands as Bell & Ross, Givenchy, Guess and Tom Ford in its portfolio.

    FJ Benjamin says it has entered into a non-binding term sheet, a document that sets out the terms and conditions under which an investment will be made, with an offshore third party.

    This term sheet would be “in relation to a potential transaction which may enhance or unlock shareholder value”, the company said in a release to the Singapore Exchange.

    With mall vacancies in Singapore for the three months to June 30 rising to 7.8 per cent from 7.3 per cent the previous quarter, FJ Benjamin saw its net loss for the fiscal year ended the same date balloon by 35 per cent to about S$23.5 million (US$16.6 million) while revenue fell by 14 per cent to S$253.6 million – its third consecutive year of losses.

    Managing more than 20 brands, FJ Benjamin has 226 stores in eight cities. One of its international labels, Raoul, closed its last store in Singapore, in Paragon mall, in February.

  • Studio City retail tenants revealed

    Studio City retail tenants revealed

    Studio City and Taubman Asia, have revealed the lineup of fashion brands that will open inside The Boulevard at Studio City.

    A mix of fashion-forward labels and internationally-renowned luxury brands include Macau’s first Balmain, Macau’s first Belstaff, and Tom Ford’s largest store in Asia, amongst many others. The selection was assembled by Taubman Asia and Melco Crown Entertainment’s combined team of retail specialists to meet Chinese consumers’ increasing desire to express their individuality through high quality, expertly crafted clothing and accessories. Bespoke and personal services will be offered to ensure our shoppers take center stage.

    Taubman says The Boulevard at Studio City will bring “an unparalleled shopping experience” to Studio City.

    “Unlike any retail offering to be found in Asia, the unique 35,000 sqm ‘immersive’ retail entertainment environment brings shopping to life by ‘transporting’ visitors to high-energy street-scapes and entertaining them at every turn with featured streets and squares inspired by iconic shopping and entertainment locations, including New York’s Times Square and Hollywood’s Beverly Hills,” Taubman said in a statement.

    “At the futuristic Times Square Macau, inside The Boulevard at Studio City, a variety of entertainment from ‘virtual’ musicians to film stars will be shown through holographic projections.

    “Leveraging our global expertise increating extraordinary retail environments, and our exceptional relationships with the world’s leading brands, our talented team in Asia has brought together an exciting mix of brands for The Boulevard at Studio City,” said René Tremblay, president of Taubman Asia.

    “Our merchandising and management services are the industry standard for performance and excellence. We are thrilled to welcome these brands to our latest project and are committed to supporting them for the long term.”

    List of brands:

    Aeronautica Militare
    Balmain
    Bank of China
    Belstaff
    Boss
    Bottega Veneta
    Bulgari
    Cigar Emporium
    Coach
    Cosmos Food Station
    Din Tai Fung
    Dunhill
    Emporio Armani
    Fendi
    Girard-Perregaux
    Givenchy
    Glashutte Original
    Graff
    Gucci
    Hide Yamamoto
    Hublot
    ICBC
    Trattoria Il Mulino
    Image Digital
    IWC Schaffhausen
    Jaeger-LeCoultre
    Jaquet Droz
    kate spade new york
    Kenzo
    Longines
    McCafe
    McDonald’s
    MCM
    Michael Kors
    Montblanc
    Philipp Plein
    Piaget
    Prada
    Rainbow
    Rimowa
    Roberto Cavalli
    Saint Laurent Paris
    Shiki Hot Pot Restaurant
    Starbucks
    Tag Heuer
    T Galleria Beauty by DFS
    Tiffany & Co.
    Tom Ford
    UM
    Vacheron Constantin
    Valentino
    Van Cleef & Arpels
    Versace Collection
    Ermenegildo Zegna
    Zenith

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