Tag: $Puig

An Estee Lauder with Jean Paul Gaultier-owner Puig failed to go through because of the ​price tag, Stephane de La Faverie, President ‌and CEO of the U.S. cosmetics maker said on Tuesday, but added the company was still open to acquisitions ​if they made financial sense.

Estée Lauder’s shares were up almost 10% in premarket trading after talks over a potential merger with Spanish beauty group Puig were “terminated.”

Shares of Puig Brands soared as much as 15% Tuesday after beauty peer Estée Lauder confirmed the companies are in talks about a potential merger.

Puig, the Barcelona-based company behind perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier, reported a 14.3% rise in fourth-quarter sales on Thursday, beating analyst expectations for the key holiday period.

Jean Paul Gaultier owner Puig Brands SA posted a rise in third-quarter revenue, bolstered by strong demand for fragrances despite a challenging backdrop for the beauty industry.

Cosmetics group Puig, owner of brands such as Carolina Herrera, Rabanne and Charlotte Tilbury, announced on Monday plans to raise more than 2.5 billion euros ($2.71 billion) in Spain’s largest initial public offering in almost a decade.