Estee Lauder Cos Inc (EL.N) said it agreed to buy U.S. fashion label Tom Ford for $2.8 billion, its biggest deal yet, adding a line of beauty products and apparel to the Clinique brand owner's portfolio.
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Luxury
Faced with the prospect of a global collapse driven by worldwide lockdowns and shutdowns, the ongoing COVID-19 pandemic has been a wakeup call for the luxury industry, forcing many companies to rethink their overall strategies, especially when it comes to the China market.