SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Indonesian Stocks Plunge as MSCI Downgrade Risk Sparks Investor Exodus 
Asian Stocks Waver as Trump Signals Fed Pick, Shutdown Deal and Tech Earnings Stir Markets 
Wall Street Slips as Tech Stocks Slide on AI Spending Fears and Earnings Concerns 
UK Vehicle Production Falls Sharply in 2025 Amid Cyberattack, Tariffs, and Industry Restructuring 
Trump Threatens Aircraft Tariffs as U.S.-Canada Jet Certification Dispute Escalates 
Starmer’s China Visit Signals New Era in UK–China Economic Relations 
Tesla Q4 Earnings Beat Expectations as Company Accelerates Shift Toward AI and Robotics 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Gold Prices Hit Record High Above $5,500 as Iran Strike Fears Fuel Safe-Haven Demand 
Boeing Secures New Labor Contract With Former Spirit AeroSystems Employees 
Amazon Stock Dips as Reports Link Company to Potential $50B OpenAI Investment 
Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
Bob Iger Plans Early Exit as Disney Board Prepares CEO Succession Vote 
Estee Lauder Companies Inc. announced on Tuesday, Nov. 15, that it has officially acquired Tom Ford SA for $2.8 billion. This will be its biggest acquisition to date.
Estee Lauder expects this deal to help the company build up its line of luxury offerings to customers, especially at this time when the demand for upscale apparel and accessories continues to be resilient even in the face of record inflation situation in the United States.
According to Reuters, the American cosmetics and skin care company’s stock dropped 17% at a close on Tuesday since the talks of the Tom Ford deal were reported in August. The New York City-headquartered luxury fashion label entered into negotiations with Estee Lauder just last week after defeating other companies that also bid for the sale, including Kering SA, which owns the Gucci brand.
Tom Ford was founded in 2005, and it is known for its high-end line of menswear. The store also offers women’s apparel, bags, perfumes, and cosmetics. The agreement is the latest in the list of Estee Lauder’s new acquisitions, with some recent purchases such as full stake control worth $1 billion in Deciem, which owns the Ordinary skincare.
“As an owned brand, this strategic acquisition will unlock new opportunities and fortify our growth plans for TOM FORD BEAUTY,” The Estee Lauder president and chief executive officer, Fabrizio Freda, said in a press release. “It will also further help to propel our momentum in the promising category of luxury beauty for the long-term while reaffirming our commitment to being the leading pure player in global prestige beauty.”
Under the deal, Tom Ford International’s founder and CEO, Tom Ford, will continue to be the label’s creative visionary until the end of 2023. Its chairman, Domenico De Sole, will also stay as a consultant for the same period.
“I could not be happier with this acquisition as The Estée Lauder Companies is the ideal home for the brand.” Tom Ford said in the release. “They have been an extraordinary partner from the first day of my creation of the company and I am thrilled to see them become the luxury stewards in this next chapter of the TOM FORD brand.”
