Luxury brand Tom Ford hires Goldman Sachs to explore potential sale that could be valued in the billions of dollars
- A deal could value the company at several billion dollars, according to people familiar with the matter
- The deal could may include an option that gives the new owner the right to work with its founder after the sale, the people said
Tom Ford, the luxury brand founded by the former long-time creative director for Gucci, is exploring a potential sale, according to people with knowledge of the matter.
Tom Ford is working with investment bank Goldman Sachs on the effort, said the people, who asked to not be identified because the matter isn’t public.
A deal could value the company at several billion dollars and may include an option that would give any new owner of Tom Ford the right to work with its founder after the sale, one of the people said.
No final decision has been made and Tom Ford could still opt to remain independent.
A representative for Tom Ford couldn’t immediately be reached for comment. A spokesperson for Goldman declined to comment.
Luxury brands have been facing rising manufacturing and logistics costs as inflation hits and energy prices surge. Lockdowns in China, a key market for luxury spending, have also curtailed growth.