Estée Lauder ends merger talks with Gaultier owner Puig

Key sticking point to building beauty powerhouse was level compensation demanded by Charlotte Tilbury The US cosmetics company Estée Lauder has ended talks with its Spanish rival Puig about a merger that would have created a fashion and beauty group worth almost $40bn (£30bn). Estée Lauder, one of the world’s biggest manufacturers of skincare, makeup and fragrances, owns brands including Clinique, Bobbi Brown and Tom Ford Beauty. Continue reading...

Mark Sweney · Fri, May 22, 2026, 6:55 AM
US news | The Guardian

Estée Lauder ends merger talks with Gaultier owner Puig

Key sticking point to building beauty powerhouse was level compensation demanded by Charlotte Tilbury

The US cosmetics company Estée Lauder has ended talks with its Spanish rival Puig about a merger that would have created a fashion and beauty group worth almost $40bn (£30bn).

Estée Lauder, one of the world’s biggest manufacturers of skincare, makeup and fragrances, owns brands including Clinique, Bobbi Brown and Tom Ford Beauty.

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