With Estee Lauder's Acquisition of Tom Ford Brand, Marcolin

Description

NEW YORK and LONGARONE, Italy—The Estée Lauder Companies Inc. (NYSE: EL) (ELC) announced that it has signed an agreement to acquire the Tom Ford brand, a global leader in luxury. The major deal will establish that ELC, a long-term partner of Tom Ford in the beauty arena, will be the sole owner of the Tom Ford brand and all its intellectual property. Under the stewardship of ELC, the purchase of the brand and the extension of its current licensing partners, including Marcolin S.p.A. for eyewear and Ermenegildo Zegna for fashion