The two beauty giants have confirmed that discussions are underway to combine their respective strengths in an increasingly competitive global beauty market. If the merger goes through, the new entity would dethrone L’Oréal from its position as the industry leader.
L’Oréal on the verge of losing its top spot in the beauty industry?
While this scenario is still far from becoming a reality, it has become a possibility following the announcement by Puig and Estée Lauder that they are in negotiations regarding a potential merger, initially reported by the Financial Times.
Shortly after Puig, Estée Lauder confirmed that it was “in discussions with Puig regarding a potential combination of their businesses, under which the two groups could merge.”
Nothing finalized
Both parties have, however, emphasized that at this stage, no final decision has yet been made and no agreement has been reached. And “until an agreement is signed, no guarantee can be given regarding the completion of the transaction or its terms,” Estée Lauder stressed. According to the Wall Street Journal, discussions between the two companies are reportedly focused on a deal involving a mix of cash and stock.
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Read more > Puig surpassed €5 billion in 2025
Featured photo: © Estée Lauder – Charlotte Tilbury
