NEW YORK – Estée Lauder Cos. said it is in talks to buy Spanish perfume maker Puig Brands SA in a deal that would unite brands including Clinique, Jean Paul Gaultier, MAC, and Rabanne.
Acquisition of the Spanish company would give Estée Lauder a stronger presence in fragrances and help it compete against L’Oréal SA, the world’s largest cosmetics company.
Estée Lauder has been implementing a turnaround strategy under CEO Stéphane de la Faverie, who shortly after succeeding longtime CEO Fabrizio Freda in early 2025 announced plans to make the New York company leaner and more agile. Estée Lauder unveiled plans to pare more than 11% of its workforce as it sought a reversal from three successive years of declining profit.
Prior to his appointment to the corner office, de la Faverie oversaw Estée Lauder’s massive fragrance division.
Barcelona-based Puig was established in 1914 by Antonio Puig Castelló and is now controlled by the third generation of the founding family. The company went public in 2024 with a portfolio fragrance, skin care, cosmetics and fashion brands.
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