Estee Lauder is closing in on a £2.4billion takeover of Tom Ford. 

The US beauty business is reportedly in exclusive discussions with the designer fashion house and a deal is expected as soon as this week. 

Sources familiar with the deal told the Financial Times that Estee Lauder would pick up Tom Ford’s beauty range as well as its clothing business, an area in which it has relatively little experience. 

Dazzling: Ana de Armas in a recent Estee Lauder advert. The US beauty business is reportedly in exclusive discussions with designer fashion house Tom Ford

Dazzling: Ana de Armas in a recent Estee Lauder advert. The US beauty business is reportedly in exclusive discussions with designer fashion house Tom Ford

Dazzling: Ana de Armas in a recent Estee Lauder advert. The US beauty business is reportedly in exclusive discussions with designer fashion house Tom Ford

The £70billion cosmetics group already owns the licence to Tom Ford Beauty, a fragrance and make-up line Ford made with Estee Lauder and launched in 2011. 

It would be Estee Lauder’s biggest takeover and the MAC, Clinique and Aveda group has beaten a number of rivals, including Gucci-owner Kering, in the battle for Tom Ford. 

The tie up would underline the resilience of the luxury cosmetics and clothing sector, where wealthy shoppers have brushed off the rising cost of living. 

Founded by fashion designer Tom Ford in 2005, the luxury brand is known for its menswear, but also counts women’s apparel, handbags, cosmetics and perfumes as part of its product line.

Its beauty range is believed to have performed especially well in China, a key growth market for both businesses 

#fiveDealsWidget .dealItemTitle#mobile {display:none} #fiveDealsWidget {display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px} #fiveDealsWidget div, #fiveDealsWidget a {margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif} #fiveDealsWidget .widgetTitleBox {display:block; float:left; width:100%; background-color:#af1e1e; } #fiveDealsWidget .widgetTitle {color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; } #fiveDealsWidget a.dealItem {float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;} #fiveDealsWidget a.dealItem#last {margin-right:0} #fiveDealsWidget .dealItemTitle {display:block; margin:10px 5px; color:#000; font-weight:bold} #fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img {float:left; display:block; margin:0; padding:0} #fiveDealsWidget .dealItemImage {border:1px solid #ccc} #fiveDealsWidget .dealItemImage img {width:100%; height:auto} #fiveDealsWidget .dealItemdesc {float:left; display:block; color:#004db3; font-weight:bold; margin:5px;} #fiveDealsWidget .dealItemRate {float:left; display:block; color:#000; margin:5px} #fiveDealsWidget .dealFooter {display:block; float:left; width:100%; margin-top:5px; background-color:#e3e3e3 } #fiveDealsWidget .footerText {font-size:10px; margin:10px 10px 10px 10px;} @media (max-width: 635px) { #fiveDealsWidget a.dealItem {width:19%; margin-right:1%} #fiveDealsWidget a.dealItem#last {width:20%} } @media (max-width: 560px) { #fiveDealsWidget #desktop {display:none;} #fiveDealsWidget #mobile {display:block!important} #fiveDealsWidget a.dealItem {background-color: #fff; height:auto; min-height:auto} #fiveDealsWidget a.dealItem {border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px} #fiveDealsWidget a.dealItem#last {border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px} #fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last {width:100%} #fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage {float:left; display:inline-block} #fiveDealsWidget .dealItemImage {width:35%; margin-right:1%} #fiveDealsWidget .dealItemContent {width:63%} #fiveDealsWidget .dealItemTitle {margin: 0px 5px 5px; font-size:16px} #fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate {clear:both} }

This post first appeared on Dailymail.co.uk

You May Also Like

Lottery winner forced to wait six months for jackpot prize after making mistake with ticket… before making it even worse

A LOTTERY winner had to wait six-months to claim a six-figure prize…

Best buy notice savings accounts: Are they a good spot for your money?

Rate starved savers hunting for a return while retaining instant access to…

Wood burners more costly for heating than gas boilers, study finds

Charity says research dispels myth that wood burning, which has health risks,…

UK petrol shortage LIVE – BP, Esso and Tesco stations CLOSE as military may be drafted to drive lorries amid HGV crisis

Many drivers are stocking up Hoards of drivers have been making late-night…