Kering is reportedly in the advanced stages of talks to acquire the Tom Ford brand, overtaking other offers, writes ILM.

Other reports indicate that Estée Lauder has also been in talks to buy out the brand for a deal valued at US$3 billion, focusing on its beauty business.

The bulk of Tom Ford’s sales are reported to come from its licensing business, including beauty, fragrance and eyewear, with 20% accounting for men’s and women’s ready-to-wear items.

Neither Kering or Tom Ford have commented on the potential acquisition, but Kering is expected to focus on developing the womenswear and accessories businesses.