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Q1 sales at Puig rise across all business segments and regions.
April 28, 2026
By: Melissa Meisel
Puig issued its first-quarter 2026 report and in it confirmed no decision has been reached yet in merger talks with Happi Top 50 Company Estée Lauder.
“As of April 28, 2026, no final decision has been made,” the Happi International Top 30 Company said in a statement. “Unless and until an agreement is reached, there can be no assurances regarding the transaction or the terms.”
The group posted revenue of 1.22 billion euros ($1.43 billion) in the first three months of the year—slightly above the 1.21 billion euros booked in the same period last year.
According to the report, Q1 sales were supported by solid performances across all business segments and regions with a “standout performance” from niche brands and makeup.
Jose Manuel Albesa, CEO of Puig, said: “Leading Puig into its next chapter is an opportunity I embrace with deep pride and responsibility. Once again, Puig delivered a solid Q1, outperforming the premium beauty market, as we have done over each one of the last five years, including each of the last eight quarters as a public company.
“Our performance is particularly notable given a demanding comparison in our largest segment, Fragrance and Fashion, and reflects the strength, desirability and resilience of our Prestige and Niche brands. We also saw a strong contribution from Makeup, with Charlotte Tilbury delivering strong growth, and steady delivery in Skincare.
“This is only the beginning of the year and we have a strong pipeline of innovation. We remain incredibly excited about the continued performance of our Niche brands and the potential that lies in Charlotte Tilbury and our skincare brands for the long term. The following quarters will see accelerated innovation behind 1 Million and Invictus from Rabanne alongside the launch of a new feminine fragrance from Jean Paul Gaultier,” said Albesa.
Combining Estée Lauder with Puig would bring some of the world’s biggest beauty and fragrance brands under one roof.
According to reports, Spanish publication Expansión revealed that Estée Lauder commissioned J.P. Morgan Chase & Co. to structure a financing package for a merger of the companies.
Expansión noted the deal would offer around 5 billion euros ($5.89 billion) for its takeover bid of Spanish firm.
Puig’s portfolio includes Charlotte Tilbury, Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten, Nina Ricci, Byredo and others. It also owns the beauty licenses of Comme des Garçons Parfums, Christian Louboutin, Benetton, Antonio Banderas and Adolfo Dominguez.
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