Estee Lauder confirms talks with Spanish perfume maker Puig

2 days ago 3

MICHELLE CHAPMAN

Tue, March 24, 2026 astatine 7:03 AM CDT 1 min read

NEW YORK (AP) — Estee Lauder and the perfume shaper Puig are successful merger talks that would perchance enactment brands similar MAC, Clinique, Charlotte Tilbury and Jean Paul Gaultier nether 1 roof.

Estee Lauder Cos. confirmed the discussions but said that nary statement has been reached with the century-old Spanish company.

Estee Lauder has been attempting to staunch a descent successful income with gross falling successful each of the past 3 years. The New York institution said successful 2025 that it could perchance cut arsenic galore arsenic 7,000 jobs by fiscal 2026, much than 11% of its workforce. CEO Stéphane de La Faverie said astatine the clip that Estee Lauder was transforming its operating exemplary to beryllium “leaner, faster, and much agile.”

Puig oversees makeup, tegument attraction and fragrance brands similar Nina Ricci, Jean Paul Gaultier and Dr. Barbara Sturm. The institution went nationalist connected the Madrid Stock Exchange successful aboriginal 2024. Its banal jumped much than 15% successful Tuesday trading.

A merger betwixt Estee Lauder and Puig would make a institution valued astatine much than $40 billion, Jeffries’ Sydney Wagner said wrote, and would springiness the New York institution a stronger presumption successful fragrances, which marque up astir of Puig's portfolio.

And portion fragrances remains a beardown category, Wagner said contention from indie brands is intensifying and L'Oreal has boosted its position.

Shares of Estee Lauder climbed somewhat successful premarket trading connected the New York Stock Exchange.

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