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Gucci owner Kering in advanced talks to buy Tom Ford - WSJ

Published 11/03/2022, 03:09 PM
Updated 11/03/2022, 03:31 PM
© Reuters. FILE PHOTO: The logo of Kering is seen during the company's 2015 annual results presentation in Paris, France, February 19, 2016. REUTERS/Charles Platiau
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(Reuters) -French luxury group Kering (EPA:PRTP) is in advanced discussions to buy fashion brand Tom Ford, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The Gucci owner has been competing for the luxury brand, founded by fashion designer Tom Ford in 2005, with rivals including Estée Lauder Cos Inc, but Kering appears to be the front-runner now and a deal could be reached soon, the report added.

According to the report, the people cautioned that there are no guarantees of an agreement and another party could still prevail.

© Reuters. FILE PHOTO: The logo of Kering is seen during the company's 2015 annual results presentation in Paris, France, February 19, 2016. REUTERS/Charles Platiau

Kering declined to comment on the matter.

Early August, the Wall Street Journal reported MAC brand owner Estee was in talks to buy Tom Ford in a $3 billion deal, which could have been the company's biggest acquisition ever.

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