Tom Ford Steps Down as Estée Lauder Takes Over, New CEO and Creative Director Announced
Just days after Tom Ford released his swan song final collection, his newly acquired luxury fashion label has named new leadership.
According to Estée Lauder Companies (ELC), the Tom Ford brand’s new owners, Guillaume Jesel has been named president and CEO of the brand, while Peter Hawkings has been tapped as creative director.
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Additionally, Ermenegildo Zegna N.V. – which holds the license for all Tom Ford men’s and women’s fashion as well as accessories and underwear – has appointed a CEO of Tom Ford Fashion. This executive is expected to be announced in July and assume the role in the third quarter of calendar 2023 and will be responsible for the end-to-end Tom Ford Fashion business from collection development, to merchandising, through to production as well as retail and wholesale distribution.
With this move, Mr. Tom Ford and Domenico De Sole, chairman of Tom Ford International, will continue to serve as brand advisors through the end of calendar 2023. “I could not be happier with the acquisition of the Tom Ford brand by The Estée Lauder Companies,” Mr. Ford said in a statement. “The team there has been a great partner and Guillaume is an exceptional leader, with not only a strong business understanding of beauty, but a great understanding of fashion as well.”
Jesel brings nearly a decade of successful brand leadership of Tom Ford Beauty to his new executive leadership position at the brand. As president and CEO, Jesel will have oversight across all verticals and set a holistic luxury strategy for the brand, according to ELC. Jesel will report to ELC executive leaders Jane Hertzmark Hudis, executive group president, and Tracey T. Travis, EVP and CFO.
Under Jesel’s leadership at Tom Ford Beauty, where he worked directly with Tom Ford and his team, the brand firmly established itself as a powerhouse in luxury beauty. Since 2014 when Jesel started with Tom Ford Beauty, he has led the brand to achieve strong net sales growth on a compound annual basis and significantly improved ranking in global prestige fragrance and makeup, respectively.
As for Hawkings, the new creative director most recently served as SVP of Tom Ford Menswear. Hawkings has been working alongside Tom Ford for nearly twenty-five years, and his ascension to creative director will see him take over direction of Fashion, including womenswear, menswear and accessory categories, assuming the role of lead designer for the fashion segment and fashion shows. He will report directly to Jesel and matrix report to the CEO of Tom Ford Fashion.
This news comes as the ELC acquisition of the Tom Ford brand closes. The deal, which was first announced in November, sees the beauty empire acquiring the brand for $2.3 billion.
In a deal that values the Tom Ford brand at $2.8 billion, ELC outbid rival Kering, which was reported to be a frontrunner for the company. This deal establishes ELC as the sole owner of the Tom Ford brand and all its intellectual property.
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