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Estée Lauder business costs Portuguese group $270 million



Félix da Costa quer continuar a somar recordes

Global giant of beauty and cosmetics Este Loder announced this week that it has reached an agreement to buy American designer Tom Ford’s company for $2,800 million (€2,685 million). Portuguese group Américo Amorim earned $270 million.

Estée Lauder said in a statement that while “under [sua] management” will ensure the “continuity and evolution of the Tom Ford brand” as one of the world’s premier luxury brands.

The operation, which to date will be the largest operation carried out by the cosmetics group, which is still awaiting the necessary approvals, is expected to be completed in the first half of 2023.

Américo Amorim, a Portuguese group from the Américo Amorim family, owns a 10% stake in Tom Ford, meaning it could net around €270 million from the deal, according to the latest available data.

“This strategic acquisition will open up new opportunities and strengthen our growth plans for Tom Ford Beauty,” said Fabrizio Freda, president and chief executive officer (CEO) of Estée Lauder, quoted in the statement.

“It will also help ensure our long-term growth in the promising luxury cosmetics category, while reaffirming our commitment to global leadership in the prestige beauty segment.”

Estée Lauder says it intends to finance the acquisition with $300m (€288m) of cash and debt, as well as deferred payments to sellers, maturing in July 2025.

Under the terms of the agreement, Tom Ford, founder and chief executive officer (CEO) of Tom Ford International, will remain the brand’s chief creative officer until the end of 2023. Domenico De Sole, President (Chairman) of Tom Ford International, will remain a consultant until the same date.

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Although Estée Lauder mentioned that the agreement values ​​Tom Ford at $2,800 million (about €2,685 million at current exchange rates), the New York-based cosmetics group must pay about €2,300 million (€2,208 million). after a $250 million (€240 million) payment to Italian eyewear manufacturer Marcolin.

Estée Lauder intends to finance the acquisition with cash, debt and $300 million (€289 million), according to The Wall Street Journal digital publication.

Tom Ford, 61, joined Gucci in 1990 as a womenswear “designer” and was named creative director in 1994, a position he held for 10 years. During this time, the Gucci group’s sales rose from $230 million to $3 billion, making the company one of the most profitable luxury brands in the world.

A native of Texas, the “designer” founded his own company in 2005. In addition to his luxurious ready-to-wear collections, Ford also named lines of beauty products, accessories, and eyewear after him.

Tom Ford Beauty perfumes and cosmetics have been available since their launch in 2006 under a licensing agreement with Estée Lauder, which also owns MAC, Clinique, La Mer and Aveda cosmetics.

Estée Lauder predicts Tom Ford Beauty’s sales will reach $1,000 million (€959 million) within two years, driven largely by the success of its luxury perfumes in the US and China.

Now that the deal has been announced, Estée Lauder is acquiring the intellectual property rights to all Tom Ford lines, she no longer has to pay royalties for Tom Ford Beauty, and she is able to generate new revenue streams by granting herself licenses to use the brand.

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The agreement provides, in particular, for the renewal and expansion of the license granted by Tom Ford to Ermenegildo Zegna for a line of clothing, accessories and underwear. The license currently issued to Marcolin to manufacture Tom Ford eyewear will also be renewed.

In a statement, Tom Ford called Estée Lauder “the perfect home” for the brand.

“They have been an incredible partner from the very beginning of my business and I am delighted to see them become the luxury stewards of this new chapter of the Tom Ford brand,” he said.

According to the Wall Street Journal, other groups were bidding to buy Tom Ford, including France’s Kering, which already owns Gucci, Saint Laurent and Balenciaga.

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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