Estée Lauder and Puig in $40 billion merger talks
Estée Lauder confirmed on March 23 it is in talks with Spanish beauty group Puig over a potential combination that would unite brands including Tom Ford, Charlotte Tilbury, Rabanne, and Clinique in one portfolio. The deal, if completed, would create a luxury beauty entity valued at around $40 billion, strengthening both companies’ positions in the global fragrance market. The talks come amid accelerating sector consolidation, including Kering’s $4.7 billion beauty sale to L’Oréal. Puig has emphasized no agreement has been reached. Estée Lauder shares fell more than 7% on Monday following news of the discussions.
Related reading: Puig’s surge leaves Estée Lauder, L’Oréal in the dust