Kering in Advanced Talks to Acquire Tom Ford Brand, WSJ Says | Photo credits: ROMUALD MEIGNEUX/SIPA
Nov 3 (Reuters) – Kering is in advanced talks to buy fashion brand Tom Ford, The Wall Street Journal reported on Thursday, citing people familiar with the matter.
The Gucci owner is competing for the luxury brand, founded by fashion designer Tom Ford in 2005, with rivals such as Estée Lauder, but Kering appears to be the favorite and a deal could be struck soon, the daily says .
The sources, however, clarified that there was no guarantee of a deal and that another party could always prevail, the article reports.
Kering declined to comment.
The Wall Street Journal reported in early August that US cosmetics maker Estée Lauder was in talks to buy Tom Ford for $3 billion, in what could have been the largest acquisition ever. by the Society. (Written by Ananya Mariam Rajesh in Bangalore; French version Kate Entringer)