Estee Lauder saves brand to recruit top fashion master

Estee Lauder is considering recruiting Tom Ford, the former creative director of Gucci Group NV, to let this maverick "master" reverse the current decline in the company's flagship brand.

According to sources familiar with the Wall Street Journal, Tom Ford and Estee Lauder are engaged in in-depth negotiations. Ford was the chief designer of Gucci and moved to Los Angeles after resigning in 2004. Since then, he has been experimenting with various occupations, including making films and writing scripts. Based on Ford's reputation in the fashion industry, his role in career transformation has always triggered a strong interest in the fashion industry and the entertainment industry.

Over the years, Estee Lauder has struggled and sales have been rather low. In April last year, 97-year-old company founder Estee Lauder passed away. His grandson, William Lauder, was appointed CEO of the company in July of that year and he was eager to revitalize the brand. Currently, the company’s management centered on William Lancome is striving to maintain its reputation as a flagship brand. Estee Lauder is less powerful than its major competitors in terms of scale and product range. L'OrealSA is twice the size of Estée Lauder, and Procter & Gamble Cos. is eight times larger. The profits of these two competitors are almost twice that of Estee Lauder. The Wall Street Journal reported that for the cosmetics industry, the size of its industry is very important to the company's profitability.

It is reported that the agreement between Estée Lauder and Ford has not yet been finalized and it is not yet clear what role he will play in the company. However, people in the industry generally believe that if the two parties reach a cooperation, the participation of the "master" may affect Estée Lauder's new products from packaging to advertising creativity and other aspects.