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While the companies have confirmed discussions, no final decision has been made.
March 24, 2026
By: Rachel Klemovitch
Assistant Editor
The Estée Lauder Companies has been in discussions with Puig on a potential business combination.
No final decision has been made, and no agreement has been reached.
However, this deal would create a $40 billion luxury beauty group with a strong foothold in the global fragrance industry, according to Reuters.
Together, the companies would face the market slowdown, with consumer sentiment further shaken by inflation concerns due to the Middle East conflict.
Unless and until an agreement is signed between the companies, there can be no assurances regarding the deal or its terms.
Puig Names Jose Manuel Albesa CEO
Estee Lauder Cos. Is Open to M&A Opportunities
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