Estée Lauder is exploring a takeover bid for Puig, the Spanish beauty and fashion conglomerate behind brands like Carolina Herrera, Prada Beauty, and Dior Beauty. Sources cited by Spanish publication Expansión report Lauder would offer between 18 and 19 euros per share for the company.
The move signals Lauder's aggressive expansion strategy in the prestige beauty market. Puig controls a powerhouse portfolio spanning fragrance, skincare, and makeup across luxury and accessible price points. A successful acquisition would immediately boost Lauder's fragrance division and strengthen its position in European markets.
Puig's holdings include Nars, Avon, and Eclat Dore, plus distribution rights for Valentino Beauty and Saint Laurent Beauty. The company generated roughly 2.9 billion euros in revenue in 2022.
The reported valuation reflects investor appetite for consolidated beauty players. Luxury conglomerates continue consolidating smaller brands to maximize distribution efficiency and cross-selling opportunities. Lauder, already home to MAC, Clinique, Origins, and Aramis, would significantly deepen its prestige footprint with this acquisition.
No official statement has emerged from either company confirming the bid. The move comes as beauty M&A activity remains robust despite economic headwinds facing the sector.