Those who know me can identify, going out on a regular day is never complete without a Tom Ford sunshade completing my outfit. Tom Ford’s sunshade architecture is amazing, and I'm yet to see anyone wear one and not look good.
I can say the same for my Ray Ban shades as well [I feel they almost look alike, aside from the inscription by the edge], they make looking good appear easier than you ever imagined. At least I can write an album on Tom Ford’s sunglasses and how they never go out of style. carefully crafted, I must say, and I bet this same attention to detail has been exhibited in their other fashion products.
Oh! Well, Lovers of fashion and glam must have gotten the memo on how top fashion brand, Tom Ford has overnight become a Billionaire. Interesting, yeah? especially when you know and understand the story of Tom Ford.
Before we go any further, we just want to make sure you know that The Watchtower, a reputable web design company in Dubai, is the engine behind this fascinating post.
Who is Tom Ford?
Fashion guru and filmmaker, Thomas Carlyle Ford is a renowned fashion designer who has served time in the space of iconic luxury fashion wear that enjoys runway and the showrooms of major luxury stores across the globe.
The 61-year-old man who launched his eponymous brand in the year 2005, having paid his dues in service as the creative director for Gucci, likewise Yves Saint Laurent [YSL] has continually yearned for being intentional in the fashion space. This act has earned him a reputable name in the industry and a seat as the chairman of the Council of Fashion Designers of America.
Thomas Ford has also explored the web of filmmaking and has written and directed celebrated films like A Single Man (2009) and Nocturnal Animals (2016).
Did Tom Ford sell his brand to Estee Lauder?
If you are reading this now, then you must know that fashion designer and filmmaker Thomas Carlyle Ford has just sold off his Tom Ford brand to one of his partners in the cosmetics world, Estee Lauder.
While this act sparks several thoughts on the possible motive to this effect, we are unable to confirm the ultimate reason for this, although some have mentioned that it might have been prompted after Mr. Thomas lost his partner, Mr. Richard Buckley, with whom they have been married for 7 years, barely a year ago, and that may be enough reason to take a break.
How much was Tom Ford sold for?
The luxury fashion brand was sold for 2.8 billion American dollars, making the 61-year-old man an overnight billionaire. This deal between Estee Lauder and Tom Ford had been in the pipeline before now, as there have been speculations on a possible valuation by Goldman Sachs, even though it was difficult for the public to paint a picture since the brand has always been discreet about its figures.
After tax deductions and all those other expenses, Tom Ford should be left with about 1.1 billion dollars from the sale.
Will Tom Ford still maintain the relationship with Estee Lauder?
What most people may not be familiar with is that Estee Lauder and Tom Ford brands have been partners for 15 years in the business. Tom Ford has shared a business relationship with Estee Lauder for cosmetics and beauty products and will still be a creative visionary until 2023.
Just like Estee Lauder shares partnership, popular luxury Italian fashion brands Ermenegildo Zegna and Marcolin will also help foster business relationships in sunshades and optical frames.
Domenico Del Sol, Ford's longtime business partner and the current chairman of Tom Ford International, will consult for the company during the transition, which is good news for continuity.