Tom Ford steps down, Estée Lauder announces new CEO and Creative Director

The Estée Lauder Group has announced new appointments for the Tom Ford brand, following the departure of the founder's last collection.

Guillaume Jesel has been named as the brand's President and CEO, while Peter Hawkings will serve as the new Creative Director.

“In Peter Hawkings the brand has found the perfect creative director,” Tom Ford said in a statement. Peter started working with me 25 years ago as a menswear design assistant at Gucci and quickly worked his way up to senior menswear designer at the company when he left to join me at the Tom Ford brand. Since the creation of Tom Ford menswear, Peter has been instrumental in the brand's success."

These changes will be effective upon the completion of the acquisition. Last November, the Estée Lauder Group acquired the Tom Ford brand for 2.8 billion dollars, and today the Marcolin Group has signed a new long-term licensing agreement with the Estée Lauder Companies for Tom Ford eyewear.

As part of the deal, Marcolin will pay 250 million dollars to Tom Ford, and financing has been secured through a capital increase by Marcolin's shareholders, as well as available cash.

The acquisition makes Estée Lauder the sole owner of the Tom Ford brand and its intellectual property, and ensures the brand's continuity and further evolution. Tom Ford and Domenico De Sole will advise on the brand through the end of 2023.

Ensuring brand continuity

“I am also pleased that the Zegna Group will continue to manufacture and distribute Tom Ford fashion and accessories, and operate retail for Tom Ford Fashion. I have worked closely with Zegna for more than 30 years, first at Gucci, then at Yves Saint Laurent. When contemplating the creation of the Tom Ford brand there was simply no other partner that we would have turned to, to produce high quality fashion products and a flawless retail experience."

“Marcolin has been an excellent partner in producing and distributing TF eyewear since the inception of the brand and I have enjoyed close collaboration with Maurizio Marcolin and his talented team for many years now."

“These companies, under the brand stewardship of The Estée Lauder Companies, provide me with confidence that the Tom Ford brand will continue to be something that I will be proud of for many years to come.”