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The Estee Lauder Companies (ELC) has acquired the Tom Ford brand in a transformational deal that establishes the company as the sole owner of the Tom Ford brand and all its intellectual property. The stewardship of the brand by ELC and the new leaders announced, and through its licenses with the Zegna Group for fashion and accessories, and Marcolin Group for eyewear, provides continuity and allows for the further evolution of the Tom Ford brand. The Zegna Group acquired operations of the Tom Ford fashion business (Tom Ford Fashion) necessary to perform its obligations as a licensee of ELC, the companies said in a joint press release.
The Estee Lauder Companies has appointed Guillaume Jesel as president and CEO, and Peter Hawkings as creative director, for the newly acquired Tom Ford brand.
The Zegna Group is expected to appoint a CEO for Tom Ford Fashion in July, who will assume the role in Q3 2023.
Tom Ford and Domenico De Sole will continue as brand advisors through the end of 2023.
Tom Ford and Domenico De Sole will continue to serve as brand advisors through the end of 2023.
Jesel brings nearly a decade of successful brand leadership of Tom Ford Beauty to his new executive leadership position at the Tom Ford brand. As president and CEO of Tom Ford, he will have oversight across all verticals and set a holistic luxury strategy for the brand. Jesel will report to ELC executive leaders Jane Hertzmark Hudis, executive group president, and Tracey T Travis, executive vice president and chief financial officer.
Under Jesel’s tenured leadership at Tom Ford Beauty, where he worked directly with Tom Ford and his team, the brand spearheaded innovation and strategically expanded its global reach, firmly establishing Tom Ford Beauty as a powerhouse in luxury beauty. Since 2014 when Jesel started with Tom Ford Beauty, he has led the brand to achieve strong net sales growth on a compound annual basis and significantly improved ranking in global prestige fragrance and makeup, respectively.
Hawkings has been working alongside Tom Ford for nearly 25 years, most recently as senior vice president of Tom Ford Menswear. In his ascension to creative director, he will succeed Tom Ford with respect to his responsibilities as creative director of fashion, including womenswear, menswear, and accessory categories, assuming the role of lead designer for the fashion segment and fashion shows.
Hawkings will be responsible for upholding the Tom Ford brand’s vision, ensuring consistency of creative direction and decisions across all fashion categories and ushering the Tom Ford brand into its next chapter. He will report directly to Jesel and matrix report to the CEO of Tom Ford Fashion.
Hawkings began his career in 1998 at Gucci under the helm of Tom Ford and worked closely with him on the development of the Gucci menswear collections. He left Gucci in 2006 to join Tom Ford in the launch of his eponymous brand where he was charged with overseeing the design and production of all categories of Tom Ford menswear including tailoring, sportswear, leather goods, and accessories, added the release.
About the new leadership appointments, Tom Ford said, “I could not be happier with the acquisition of the Tom Ford brand by The Estée Lauder Companies. The team there has been a great partner and Guillaume is an exceptional leader, with not only a strong business understanding of beauty, but a great understanding of fashion as well.
“I am also pleased that the Zegna Group will continue to manufacture and distribute Tom Ford fashion and accessories, and operate retail for Tom Ford Fashion. I have worked closely with Zegna for more than 30 years, first at Gucci, then at Yves Saint Laurent. When contemplating the creation of the Tom Ford brand, there was simply no other partner that we would have turned to, to produce high quality fashion products and a flawless retail experience.”
Fibre2Fashion News Desk (NB)
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