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Tom Ford is paying more than lip service to lip color.
August 27, 2024
By: TOM BRANNA
Editor
In an effort to boost flagging cosmetics sales, Tom Ford Beauty has hired Angelina Jolie as its spokesperson for the revamped Runway Lip Color. The 18-shade lineup rolls out next month. It includes eight new shades and 10 existing shades. The revamp also includes Runway Lip Pencils, available in eight shades. Prices range from $46 for the pencils to $62 for the lipsticks.
The move comes after a down year for The Estée Lauder Companies in general and Tom Ford makeup in particular. In its FY2024 filing, ELC noted that net sales for Tom Ford makeup declined, “primarily driven by lower net sales from the lip subcategory.”
Despite the color cosmetics conundrum, company executives insist that Tom Ford will become a $1 billion business over the next couple of years. ELC acquired Tom Ford for $2.3 billion in 2023.
In addition to promoting Runway, Jolie will be the face of future Tom Ford Beauty projects, according to ELC.
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