Estee Lauder to buy fashion label Tom Ford in $2.8 billion deal
Source: Reuters
Nov 15 (Reuters) - Estee Lauder Cos Inc (EL.N) said on Tuesday it clinched a deal to buy U.S. fashion label Tom Ford for $2.8 billion in what would be its biggest acquisition.The deal will help Estee beef up its luxury offerings at a time when demand for high-end apparel and accessories remains resilient despite record inflation in the United States.Founded by fashion designer Tom Ford in 2005, the luxury brand…
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