Edgen Stock·Mar 23 2026, 20:37雅詩蘭黛公司證實正在與西班牙美妝集團Puig進行合併談判，這筆潛在交易可能催生一個價值400億美元的行業巨頭。這一消息立即引發了市場反應，投資者不確定性導致雅詩蘭黛股價下跌。
shares of The Estée Lauder Companies (NYSE: EL) dropped approximately 7% on Monday, March 23, after the beauty giant confirmed it is in discussions for a potential merger with Barcelona-based Puig. In a press release issued at 16:15 UTC-4, Estée Lauder acknowledged the talks but emphasized that no final decision has been made and no agreement has been signed. The market reaction pushed the company's market capitalization down toward 310億美元, as investors weighed the implications of a potential tie-up valued at around 400億美元。
The potential business combination would unite Estée Lauder's strength in prestige makeup and skincare with Puig's fast-growing fragrance and fashion empire, which includes brands like Rabanne, Carolina Herrera, and Jean Paul Gaultier. Puig, which completed Spain's largest IPO in nearly a decade in 2024, has demonstrated strong financial health, reporting a 12% increase in net profit for 2025. Reports suggest the deal structure could involve a mix of cash and stock, merging two of the industry's most prominent family-controlled companies.
These negotiations are unfolding as the global beauty sector rebounds, particularly in key growth regions. China's cosmetics retail market expanded by 5.1% in 2025, reaching a record 4653億元人民幣. Estée Lauder itself reported double-digit retail sales growth in mainland China during the 第二季度 of 2026, signaling a recovery from previous headwinds. A merger with Puig could create a more dominant and diversified entity better positioned to capture this renewed consumer spending across both Western and Asian markets.
