Estee Lauder to acquire Tom Ford for $2.8 billion
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The American multinational cosmetics brand, Estee Lauder has agreed to buy designer Tom Ford's company for a whopping $2.8 billion. According to the deal, Tom Ford is going to retain his position as creative director until the end of next year. The deal includes the Tom Ford beauty cosmetics and fragrance collection, with which Estee Lauder already has a licensing agreement until 2030.
