Estee Lauder seeking funding for potential Puig takeover, Expansion reports

21st Apr 2026 15:04

(Sharecast News) - Madrid-listed Puig, the high-end cosmetics and fashion conglomerate, hit a 52-week high on Tuesday after reports emerged that Estee Lauder had sought funding for a potential merger.

According to Spanish publication Expansion, the American cosmetics giant has hired JPMorgan to work on a financing deal worth €5bn to buy Puig, which at current market prices is valued at €3.3bn.

The speculation followed reports back in March that the two parties were in talks about a potential deal.

Puig, which owns cosmetic and fragrance firms such as Charlotte Tilbury and Byredo, as well as luxury brands Dries Van Noten and Christian Louboutin, jumped 6.3% to €18.81 by 1507 BST, hitting a high of €18.89 not seen since January 2025.

The latest rumours come just a month after Marc Puig stepped aside as chief executive, with the grandson of founder Antonio Puig Castelló moving to the executive chair position. Deputy CEO and beauty and fashion president Jose Manuel Albesa was his successor.

"This is an exciting time in Puig's evolution, building on very strong foundations and growth to set the platform for the next stage of our development," Marc Puig said at the time.

Estee Lauder was trading 0.3% lower at $77.61 in New York, valuing the world's second largest cosmetics company at just over $26bn.