Tom Ford now a billionaire after EstÃ©e Lauder agrees to buy his company for $2.8 Billion
Estée Lauder has agreed to buy Tom Ford’s high-end fragrances, making designer, film director, art collector and fashion world provocateur, Tom Ford now officially a billionaire.
On Tuesday, November 15, Estée Lauder announced it had agreed to buy his company in a deal that totaled $2.8 billion – the largest in the luxury industry this year.
Ford, 61, will stay on with the brand through the end of 2023, though his role beyond that is not yet clear.
Saying he “could not be happier,” Mr. Ford added of Estée Lauder in a statement, “They have been an extraordinary partner from the first day of my creation of the company and I am thrilled to see them become the luxury stewards in this next chapter of the Tom Ford brand.”
Tom Ford’s beauty business includes fragrance, cosmetics and skin care. Before this deal, Estée Lauder has had a longstanding licensing agreement with Tom Ford.
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.
“We are incredibly proud of the success Tom Ford Beauty has achieved in luxury fragrance and makeup and its dedication to creating desirable, high-quality products for discerning consumers around the world,” Fabrizio Freda, the chief executive officer of Estée Lauder, said. He added the deal would further his company’s growth in “luxury beauty for the long-term.”
Estée Lauder, which will pay $2.3 billion, will finance the deal through a combination of cash, debt and $300 million in deferred payments. Marcolin, the Italian group that owns the license for Tom Ford eyewear, will pay $250 million to Estée Lauder when the deal closes.
Estranged wife of Mercy Aigbe’s husband shares a post about karma
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In the post, Oluwafunso stated that revenge is not in her plan as karma eventually comes after everyone. She also said people can’t get away with screwing others over as what goes around comes around.
See her post below….
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Bryshere Gray, a former “Empire” star has been arrested again for allegedly violating his probation.
Gray who pleaded guilty to aggravated assault in 2021, was arrested in Maricopa, Arizona, after cops were called in by a woman who claimed they were in a romantic relationship. She told cops “his behavior was escalating and she was concerned for her safety.”
In legal documents obtained by TMZ, the woman claimed Gray threw a box of food at her and pulled her hair. She also told cops about other instances where he’d shout at her.
Officers say Gray had multiple run-ins with law enforcement; including a domestic-related disturbance call last month.
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19-year-old student becomes Miss America’s first ever transgender as critics accuse the competition of ‘allowing opportunities to be stolen away from female contestants’ (photos)
A student has become Miss America’s first-ever transgender contestant to win a local pageant -prompting critics to accuse the competition of ‘allowing opportunities to be stolen away from female contestants’.
Earlier this month, Brían Nguyen, 19, made Miss America history when she became the first transgender woman to win the Miss Greater Derry title.
The Miss Greater Derry Scholarship Program, set up by the Miss America Organisation, welcomes contestants between the ages of 17 and 24 who are judged on their ‘their achievements in scholastic, aptitude, talent, character, community service, and poise’, according to their website.
In April, the business management student will compete against other local title holders to become Miss New Hampshire 2023.
The winner of the state round will then proceed to participate in the wider Miss America pageant later in the year.
Writing for the Daily Fetched, 42-year-old former Miss Great Britain said: ‘I won the Miss Great Britain competition in 1998 and aside from all the glitz and glamour on the surface, it involved a lot of time and effort.
‘Seeing the news that Brían Nguyen won the pageant made me think how I would feel if I was beaten by a large biological male after spending months training and preparing for the contest.
‘Winning the competition opened up a world of opportunities to me, a result of being allowed to fairly compete in an era absent of woke ideology. Sadly these young women today are not being given the same chance.’
The former beauty queen went on to accuse the pageant of being ‘desperate to appear woke and inclusive’ to appeal to younger generations.
She added: ‘Brian Nguyen has just been lucky enough to be born in the right era.’
‘For the sake of females going forward, we cannot allow this, they don’t even realise the opportunity that has been stolen from them by a biological male and it’s out of control.’
Meanwhile, GB News host Mark Dolan commented: ‘Yes folks, we’ve reached peak woke – where an in-tact biological man […] calls himself a woman and beats a group of actual young girls in a female beauty contest.’
The pageant has since removed the information regarding the amount Brían has won through her scholarship from their website.
Celebrating the landmark achievement on her Instagram page, Brían said ‘no words’ could explain how much the win meant to her.
She wrote: ‘In the 100-year history of Miss America, I have officially become the FIRST transgender titleholder within the Miss America Organization.
‘No words can describe the feeling of having the opportunity to serve my community and represent my community for the very first time at Miss New Hampshire.
‘I am so honored to be crowned your new Miss Greater Derry 2023, and I am thrilled to show you all what I have up my sleeves. This will be an amazing year.’