Puig “not for sale” after failed deal with Estée Lauder

The planned merger between cosmetics group Estée Lauder and Spanish fragrance company Puig has been called off following internal conflicts and unexpected demands. Puig now emphasizes that it intends to move forward on its own, despite interest from other parties.

Information leaks and family feuds

A combination of information leaks, disagreements between the powerful shareholder families, and unexpected demands from makeup guru Charlotte Tilbury reportedly threw a wrench in the works. Puig acquired the brand rights to Tilbury in 2020, but she retains a minority stake until 2031 and now wanted to renegotiate the contract.