When news spread in June that Goldman Sachs was shopping American luxury brand Tom Ford, insiders immediately began speculating about who might be interested.Since then, a potential frontrunner has emerged. This week, the Wall Street Journal reported that Estée Lauder Companies (ELC), the American beauty conglomerate — with a current market capitalisation of over $96 billion — is in talks to acquire the Los Angeles-based fashion label at a $3 billion valuation or more.Both companies declined to comment on the report, although a source told WSJ that a deal has yet to be reached and other parties remain interested in the brand.
When a Beauty Business Buys a Fashion Brand, It’s Rarely About the Clothes
