Puig's shares surged by almost 15% on the stock market after reporting on Monday, at the close of trading. who is having talks with the American Estée Lauder to study a possible business merger. Shares of the majority family-owned company ended the day with a 12.97% gain, reaching €17.59 – the best-performing stock on the Ibex 35 – allowing it to recover some of the losses it has suffered since its initial public offering on May 3, 2014. According to statements made Monday night by the Catalan perfume and cosmetics company to the Spanish National Securities Market Commission (CNMV) and by Estée Lauder to the US regulator, the SEC, no final decision has been made nor has any agreement been reached between the parties. In this regard, the company emphasized that, without a firm agreement, there is no guarantee that the transaction will materialize, nor on what terms. But the markets have already done their calculations regarding a deal that could create a new giant in the sector, with a greater capacity to compete with the current leader, the French company L'Oréal (with brands such as Lancôme, Garnier, and Maybelline), whose main shareholders are the Bettencourt Meyers family and Nestlé, and which has a value of over 10.

There are developments in the beauty, cosmetics, and perfume sector. The Catalan company Puig Brands confirmed tonight that it is in talks with the American company Estée Lauder, also majority-owned by the family. In a statement to the Spanish National Securities Market Commission (CNMV), the group controlled by the Puig family acknowledged that these negotiations are taking place, as previously reported by [the Spanish news outlet]. Financial TimesIn the same statement, the multinational—which owns brands such as Paco Rabanne, Nina Ricci, Jean Paul Gaultier, Byredo, Charlotte Tilbury, and Carolina Herrera, among others—adds that the talks are focused on "a possible combination of businesses with The Estée Lauder Companies Inc." In any case, they assure that "no final decision has been made nor has any agreement been reached." And they add that "until there is an agreement, there is no guarantee that a transaction will take place, nor its terms." The Wall Street Journal Information has emerged about the operation, which would create a cosmetics giant valued at over €30 billion. Following news of the talks, shares of the US firm fell by more than 8% on the stock market. Estée Lauder is larger than Puig Brands, which also has a portion of its capital publicly traded. The US group's value is around $30 billion – it fell to $28 billion on Monday – while Estée Lauder's is valued at approximately $9 billion. IPO

The Catalan group, which debuted on the stock exchange on May 3, 2024, launched at €24.50 per share, a price it has not yet recovered. This Monday, it closed at €15.57, up 3.59%. The family that owns the Catalan multinational, with a 112-year history, retained more than 90% of the voting rights despite its IPO. In 2025, Puig reported net revenues of €5.042 billion, a 5.3% increase, and profits of €594 million, an 11.9% increase.

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