Tom Ford is Planning to Sell Tom Ford, According to Reports
A deal could value the fashion company at several billion dollars
Tom Ford might sell his luxury fashion house. The American designer is working with Goldman Sachs for the valuation of his company, Bloomberg reported on Monday. The company’s worth might be several billion dollars, but as the brand’s financials are not public, a figure is difficult to estimate.
Tom Ford is planning to sell Tom Ford
Tom Ford collects royalties for apparel, accessories, eyewear, fragrance, and beauty. So, the label will obviously have a high price tag. An anonymous source with knowledge of the matter has shared that the deal might include an option allowing the brand’s new owner to collaborate with Tom Ford after the sale.
It is also unclear whether the brand would remain independent or if Ford would remain involved after the ink dries.
No final decision has been made – and the matter has not been made public just yet. Representatives for both parties have declined to comment.
Tom Ford is a native of Texas who founded the brand in 2005 after leaving a lucrative job at Gucci. He launched his namesake brand with Domenico De Sole, who was Gucci’s president and CEO when Ford was its creative director. The eponymous brand first focused on eyewear and eventually moved on to offering men’s clothing.
In May this year, Tom Ford announced that he was stepping down as CFDA chair after serving a three-year term. In a statement shared by the CDFA, Ford said, “I am honoured to have been able to support the truly incredible talent in the American fashion industry for these past three years, and I look forward to continuing in my role on the CFDA Board.”
After selling the luxurious brand, what will Ford do? He might likely go into filmmaking. The famous person has already proved successful in that area. He made his directorial debut with 2009’s A Single Man starring Colin Firth. Then, he released a second, more ambitious work, Nocturnal Animals, in 2015. Both the projects were critically acclaimed and even earned Oscar nominations.
Who could buy Tom Ford? LVMH might likely buy the brand. LVMH is already on a shopping spree, so no one would be surprised when Bernard Arnault welcomes the Madison Avenue company into his prolific conglomerate a la Tiffany & Co. Keep reading for more updates on this.
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