Estée Lauder Appoints New CEO and Creative Director Following Tom Ford’s Departure — Retail Bum

The Estée Lauder Group has made new appointments for the Tom Ford brand following the departure of the brand’s namesake designer.

Guillaume Jesel is now the brand’s president and chief executive, and Peter Hawkings is the new creative director, according to an announcement by the Estée Lauder Group.

Tom Ford announced in a statement that the brand had discovered the ideal creative director in Peter Hawkings. “Peter began his career as a menswear design assistant at Gucci 25 years ago, and he advanced quickly to become the senior menswear designer at the company,” Ford said. “He later joined the Tom Ford brand, where he has been instrumental in the success of the Tom Ford menswear line since its inception.”

The appointments became effective after the finalization of the acquisition on April 28, 2023. Tom Ford brand was purchased by the Estée Lauder Group for $2.8 billion in November 2022, making Estée Lauder the sole proprietor of the brand and the owner of its intellectual property.

In related news, Marcolin Group has signed a new long-term licensing agreement with the Estée Lauder Companies for Tom Ford eyewear.

Under the terms of the agreement, Marcolin will transfer $250 million to Tom Ford, with financing being sourced from a combination of Marcolin’s shareholders’ capital increase and available cash.

Ford and Domenico De Sole, the brand’s chairperson, will continue to provide guidance until the end of 2023.

Photo(s) credit: Estée Lauder / Ferry van der Nat

Originally published at https://retailbum.com on May 1, 2023.