🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Gucci owner Kering in advanced talks to buy Tom Ford - WSJ

Published 11/03/2022, 03:09 PM
Updated 11/03/2022, 03:31 PM
© Reuters. FILE PHOTO: The logo of Kering is seen during the company's 2015 annual results presentation in Paris, France, February 19, 2016. REUTERS/Charles Platiau
PRTP
-

(Reuters) -French luxury group Kering (EPA:PRTP) is in advanced discussions to buy fashion brand Tom Ford, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The Gucci owner has been competing for the luxury brand, founded by fashion designer Tom Ford in 2005, with rivals including Estée Lauder Cos Inc, but Kering appears to be the front-runner now and a deal could be reached soon, the report added.

According to the report, the people cautioned that there are no guarantees of an agreement and another party could still prevail.

© Reuters. FILE PHOTO: The logo of Kering is seen during the company's 2015 annual results presentation in Paris, France, February 19, 2016. REUTERS/Charles Platiau

Kering declined to comment on the matter.

Early August, the Wall Street Journal reported MAC brand owner Estee was in talks to buy Tom Ford in a $3 billion deal, which could have been the company's biggest acquisition ever.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.