economy
Estée Lauder is in talks to merge with Puig amid ongoing turnaround plan
Estée Lauder said Monday the company is in talks to potentially merge with Spanish beauty company Puig.
TL;DR
- Estée Lauder is in talks with Spanish beauty group Puig about a potential merger.
- No final decision or agreement has been reached in the discussions.
- Estée Lauder's shares dropped nearly 8% following the news.
- Puig's stock saw a roughly 3% increase.
- Puig owns brands like Charlotte Tilbury, Jean Paul Gaultier, and Rabanne.
- Estée Lauder is currently implementing a turnaround plan called "Beauty Reimagined."
- The company anticipates a $100 million hit to profitability this year due to tariffs.
- Estée Lauder's stock has declined approximately 25% this year.