"The acquisition was driven by the strength of Tom Ford’s beauty business, which includes fragrance, cosmetics and skin care, and for which Estée Lauder has had a longstanding licensing
agreement," according to The New York Times
. "The deal also brings apparel to Estée Lauder, which had been strictly focused on beauty, with a portfolio of brands that include La Mer,
Bobbi Brown and Clinique."
Read the whole story at The New York Times »