Tom Ford reportedly exploring sale
Luxury fashion brand Tom Ford is exploring a possible sale of its business, according to a report on Thursday, in a takeover deal that could value the American brand at several billion dollars.
According to a Bloomberg report, the namesake fashion brand founded by the former creative director of Gucci, is exploring a potential sale and is working closely with investment bank Goldman Sachs, sources told the publication.
The deal could value the company at several billion dollars and includes an option that would give Tom Ford's new owner the right to work with its founding designer after the sale, sources added.
No final decision has been made and Tom Ford could still opt to remain independent, the report said.
Both the Tom Ford brand and Goldman Sachs were unable to comment on the news late Thursday.
Austin, Texas native Ford bowed his namesake Tom Ford fashion brand in 2005, after a long-term stint as creative director of Italian house Gucci. Since its inception, the Tom Ford empire has expanded to beauty and eyewear, today made in licenced partnership with Estee Lauder Companies and Marcolin, respectively.
As a designer, Tom Ford has also served as chairman of the Council of Fashion Designers of America (CFDA) for the last three years. He stepped down from the role in late May.
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