“By early 2014, if we continue to meet our business plan, we will hit one billion dollars [a year] at retail of Tom Ford products,” Tom Ford recently told The Business of Fashion. The comeback kid has had a pretty stellar year having emerged after leaving positions at Gucci and Yves Saint Laurent. This time he’s reemerged and has proven himself to be a solid businessman, despite his creative sensibilities.
Considering his portfolio of ventures under Tom Ford International–eye-wear, fragrance, cosmetics, ready-to-wear, men’s and women’s accessories– the trajectory he see’s for his company is not off. Similar billionaire moguls like Ralph Lauren and Tory Burch have created business models that coexist to create a lifestyle brand.
He talks in detail about the blueprint he used to build his empire:
On his first step post Gucci: “I was very aware that I needed to promote my name, and so I was conscious of that from the very beginning. I realized after I left Gucci, that I needed to own what I had done, so the first thing I did was a Tom Ford book. I did it within 4 to 5 months of leaving. It gave me the ability for magazine stories, gave me the ability to go do signings at Bergdorfs, Neimans. It was a link to keep my name alive.”
On launching eye-ware and fragrance deals before clothing: “I realized that [the licensing deals] would keep my name very public, [so] that if I chose to go back into fashion it would even make my name bigger. Name recognition is only as good as what you produce, just as a logo is as only as valuable as what it’s on. So had I produced collections, which had not been well received, it would have been meaningless.”
On his potential to grow in the beauty market “I would like to see us easily at $500 million, but it depends how far in the future we are projecting. I would like to be one of the five major brands in the world, in terms of scale.”
Read the full (and extremely interesting) interview, here.