Estée Lauder CEO says negotiations with Puig are still ongoing

Golden Finance May 19｜Estée Lauder CEO Stephane de La Faverie stated that negotiations with Puig regarding a potential merger to create the world's largest high-end beauty company are still ongoing, but there is currently no news to announce. The two companies said in March this year that they were in talks about a possible merger, which would bring brands such as Tom Ford, Jean Paul Gaultier, and Clinique under the same group. The CEO stated that acquisitions have long been a part of Estée Lauder's strategy.