![]() And therefore, satire is really a posh way of saying it’s a comedy. It adds that the family reserves: “the right to take any action necessary to protect the name, image and dignity of themselves and their loved ones.”Īddressing the factual accuracy behind the film, director Ridley Scott told Total Film last month: “I tried to be as respectful as possible by being as factual as possible, and as factual as we can possibly imagine.” Scott added: “the story, in a funny kind of way, it’s a satire. “Despite the claim that the work seeks to tell the ‘true story’ of the family, the fears aroused by the trailer and interviews released thus far are confirmed: the film conveys a narrative that is anything but accurate,” reads the statement. Today, the Gucci family released a statement, calling the film: “an insult to the legacy on which the brand is built today.” They say that they observed the release of House of Gucci with “some bewilderment.” Tom Ford is a newly minted billionaire, thanks to the 2.8B Este Lauder deal By Michelle Toh, CNN Business Updated 2:05 PM EST, Wed NovemLink Copied Tom Ford talks US. He applauded “Gaga’s and Driver’s strong performances, powerful over-the-top portrayals by the entire cast, impeccable costumes, stunning sets and beautiful cinematography”. CNN Sans ™ & © 2016 Cable News Network.Adam Driver as Maurizio Gucci, left, and Lady Gaga as Patrizia Reggiani in House of Gucci Photograph: Fabio Lovino/APįord, who launched his own company in 2005 after leaving Gucci as well as later directing the films A Single Man and Nocturnal Animals, went on to praise some aspects of the film. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. ![]() Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. ![]() US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account –CNN’s Parija Kavilanz contributed to this story. “They have been an extraordinary partner from the first day of my creation of the company and I am thrilled to see them become the luxury stewards in this next chapter,” he said. In 2005, Ford struck out on his own and launched his own company.įord said in a statement that he “could not be happier with this acquisition as The Estée Lauder Companies is the ideal home for the brand.” A few years later, he was named creative director and was responsible for all of Gucci’s product lines, from clothing to perfumes.ĭuring his 10 years in that role, Gucci’s sales increased from $230 million to more than $3 billion. He moved to Milan in 1990 where he began his career in fashion as a women’s wear designer for Gucci. “As an owned brand, this strategic acquisition will unlock new opportunities and fortify our growth plans for Tom Ford Beauty,” Estée Lauder Companies President and CEO Fabrizio Freda said in a statement.īorn in Austin, Texas in 1961, Ford studied art history at New York University and later architecture at the Parsons School of Design in New York and Paris. Ford’s existing portfolio also includes at least two homes, one in Los Angeles and one in New York City, valued at a collective $65 million, the publication said.įord will stay on as the brand’s “creative visionary” after the deal closes and stay in that role through the end of 2023, according to the statement. The two companies have been partners for more than 15 years after launching the Tom Ford Beauty brand together in 2006.Īs a result of the sale, Ford now joins the ranks of global billionaires, according to Forbes, which estimates the designer, who owned nearly 64% of his company, will receive about $1.1 billion in cash from the sale after deducting estimated taxes. The deal will fully integrate Tom Ford Brands, which already has an ongoing a partnership with the cosmetics and skincare giant, into Estée Lauder’s diverse portfolio. The acquisition of Tom Ford Brands by Estée Lauder is expected to close in the first half of next year, pending regulatory approvals. A blockbuster deal to sell his eponymous fashion brand has catapulted fashion designer Tom Ford into the global billionaires club.įord, 61, who launched The Tom Ford Brand in 2005 and grew it into a luxury clothing and accessories powerhouse, sold his company Tuesday to Estée Lauder Companies
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