BREAKING NEWS: Tom Ford Hires Goldman Sachs To Explore Potential Sale
UNITED STATES — It is being reported that luxury house Tom Ford, founded by the former longtime creative director of Gucci, is exploring a potential sale, according to people with knowledge of the matter.
According to BoF, the American designer is “working with investment bank Goldman Sachs Group Inc on the effort, said the people, who asked to not be identified because the matter isn’t public“.
“A deal could value the company at several billion dollars and may include an option that would give any new owner of Tom Ford the right to work with its founder after the sale, one of the people said. No final decision has been made and Tom Ford could still opt to remain independent“.
The Austin, Texas – native launched his namesake company in 2005, a year after leaving Gucci, which he revitalized during a decade-long stint as creative director.
Tom Ford started as a apparel brand focused on luxury menswear. All its suits were licensed to and produced by recently public Ermenegildo Zegna Holditalia SpA until the Fall and Winter 2022 collection, when the exclusive rights expire, Zegna’s annual report showed. Zegna will continue to produce some Tom Ford products starting next season.
Tom Ford sells eye-wear produced and distributed by Marcolin SpA, as well as beauty and fragrance licensed to Estee Lauder Cos. The brand’s offerings also include accessories such as watches and small leather goods.
Stay tuned to D.M. Fashion Book as this story develops!
Photos Credit: Alessandro Lucioni / Gorunway.com