The Estée Lauder Companies Inc. (NYSE: EL) has signed an agreement to acquire the Tom Ford brand and all its intellectual property for $2.8 billion.
Estée Lauder will pay $2.3 billion after a $250 million payment from Italian company Marcolin S.p.A., which licenses the Tom Ford eyewear line.
Under the agreement, Tom Ford, founder and CEO of New York City-based Tom Ford International, will continue to serve as the brand’s creative visionary through the end of 2023, and Domenico De Sole, chairman…
