Estée Lauder Cos. has signed former Gucci fashion designer Tom Ford to launch a new cosmetics line and fragrance products under Ford’s name. The deal marks the first time the cosmetics company has partnered with an outside fashion designer.
The multi-year deal involves two phases.
In the first, Ford will create a Tom Ford for Estée Lauder line to be sold at Estée Lauder counters. A limited range of products will be introduced in time for the holiday season. By spring 2006 a more extension collection for broader distribution will debut.
During the second phase, Ford will create a Tom Ford beauty brand to include fragrance and other related products to launch in the fall of 2006.
Ford joined Gucci in 1990 as womenswear designer and in 1994 was named creative director. During his 10 years as creative director, sales grew from $230 million in 1994 to close to $3 billion last year. He is considered one of the most highly respected and successful designers of the last decade, Estée Lauder said.
The Estée Lauder brand generates about $3.5 billion in global retail sales, one of the slowest growers in the Lauder group, according to news reports.
Estée Lauder brands include Estée Lauder, Aramis, Clinique, Prescriptives, Origins, M.A.C, Bobbi Brown, Tommy Hilfiger and others.
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