New York, USA – Global beauty brand Estée Lauder has confirmed that it is in talks with Spanish beauty brand Puig for a potential business combination of the two businesses, but noted that no final decision has been made.
“The Estée Lauder Companies Inc. confirms that it is in discussions regarding a potential business combination with Puig, in which the two companies would potentially merge their businesses. No final decision has been made, and no agreement has been reached. Unless and until an agreement is signed between the companies, there can be no assurances regarding the deal or its terms,” the company stated.
Estée Lauder Companies is a US-based multinational cosmetics company founded in 1946 by Estée Lauder and Joseph Lauder. Headquartered in New York City, the company is one of the world’s largest prestige beauty groups, with a portfolio spanning skincare, makeup, fragrance, and hair care.
Its brand portfolio includes names such as MAC Cosmetics, La Mer, Clinique, and Bobbi Brown Cosmetics. The company operates in more than 150 countries and territories and has a strong presence across travel retail, department stores, specialty retailers, and e-commerce.
Meanwhile, Puig is a family-owned Spanish company founded in 1914 by Antonio Puig and headquartered in Barcelona. The company specialises in fragrances, fashion, and skincare, and has built a strong reputation in the premium and luxury segments.
Puig’s portfolio includes brands such as Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, and Charlotte Tilbury Beauty. The company combines owned brands with long-term licensing agreements and distributes its products globally, with a particularly strong footprint in Europe and the Americas.
This news comes in the heels of new of Prada, the Italian luxury fashion giant under Prada Holding S.p.A., acquiring its rival Versace from Capri Holdings in a deal that has swirled the fashion industry for a couple of years.
