They say history repeats itself and it may be just about to happen to one of the most influential men of the century – American fashion designer Tom Ford is rumoured to be selling his eponymous fashion label.
In a story reported by Bloomberg earlier this week, Ford has allegedly hired the financial advice of Goldman Sachs to help him negotiate the potential sale of the Tom Ford empire. While estimates suggest that brand could fetch well within the billions, exact figures are hard to estimate as the brand’s figures are not public.
In the luxury fashion industry, Tom Ford is currently one of the few brands that remains independent of the two behemoths Kering and LVMH who between them own some of the world’s most recognisable brands, including Dior (LVMH), Fendi (LVMH), Balenciaga (Kering), Gucci (Kering). Should the sale go ahead, it could become a bidding battlefield between the two to gain control over one of the influential names in fashion today.
Since launching the brand in 2005, Ford has expanded his offering from luxury fashion to include accessories (both bags and eyewear), make-up and fragrances (with Estée Lauder) that include global best sellers Black Orchid, plus the tongue-in-cheek Fucking Fabulous, Lost Cherry and Rose Prick.
While both people for Tom Ford and Goldman Sachs have declined to make any official statement on the rumour, perhaps would be more interesting would be if Ford himself would stay on in any capacity once and if the sale goes through. As to why, perhaps the 60-year-old Texan simply wants to slow down and take a well-earned break. Late last year, Ford lost his partner of 35 years Richard Buckley.
This isn’t the first time that Ford would be present during the take-over and sale of one of the most influential brands in the world. Ford had been recently appointed creative director at Gucci when the brand became involved in one of the industry’s most infamous cold wars between LVMH, who had been buying up shares in the brand, and Pinault Printemps Redoute (which would later become Kering and eventually sole owner of the brand.)