Latest news and articles about Estée Lauder from NEX English
Estée Lauder's shares rose nearly 10% in pre-market trading after the company announced the end of merger discussions with Spanish group Puig. This decision comes as the company focuses on its new strategy of 'Reimagined Beauty.'
Reports indicate that American company <strong>Estée Lauder</strong> and Spanish firm <strong>Puig</strong> are making significant progress in merger negotiations, potentially creating one of the largest entities in the luxury beauty sector. This development comes amid substantial changes in the cosmetics industry as major companies seek to strengthen their market positions.
Estée Lauder has announced negotiations to acquire the Spanish company Puig, potentially forming a beauty giant with annual sales of around $20 billion. The companies have not disclosed details of the deal.
Estée Lauder has confirmed the initiation of merger talks with Spanish company Puig, aiming to enhance its position in the fragrance market. This move comes amid a continuous decline in Estée Lauder's sales over the past three years.