Estee Lauder (EL) said it's in talks to buy Puig Brands in a deal that would create a cosmetics giant with about $20 billion in annual sales.
The companies declined to offer details on the terms. Puig, based in Spain, has a market value of about 10 billion ($11.6 billion), while Estee Lauder closed on Monday at around $30 billion. Bloomberg's Companies Reporter Clara Lizarraga joins to discuss.
The Estée Lauder Companies Inc. is one of the 1st world cosmetics groups. Products are sold under brands (Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, Bobbi Brown, La Mer, Aveda, Jo Malone London, Bumble and bumble, Darphin, TOM FORD, Smashbox, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, The Ordinary and NIOD) and under brands of licenses (AERIN, BALMAIN and Dr. Andrew Weil). Net sales break down by family of products as follows:
- skin care products (48.6%);
- make-up products (29.4%);
- perfumes (17.4%);
- hair care products (3.9%);
- other (0.7%).
At the end of June 2025, products are marketed through about 1,600 outlets worldwide, distributed between large stores, perfume shops, pharmacies, beauty institutes and exclusive shops, and via Internet.
Net sales are distributed geographically as follows: Americas (30.8%), Europe/Middle East/Africa (37.5%) and Asia/Pacific (31.7%).
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