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Estee Lauder shares jumped more than 11% after hours on news that talks for it to acquire the Spanish beauty group Puig have been terminated. Lauder, whose brands include Clinique, M.A.C and Bobbi Brown Cosmetics, said Thursday that it instead remains focused on its turnaround efforts.
The decision ends months of speculation that the two would merge and create one of the world’s largest beauty companies.
Both companies emphasize confidence in their portfolios and commit to driving long-term growth independently.
e.l.f. Beauty posts fiscal fourth quarter sales growth of 35.1% as Rhode boosts results, while margins face pressure from higher operating costs.
According to the Spanish economic and business publication, Expansión, new contractual demands by Charlotte Tilbury are disrupting merger negotiations between Puig and The Estée Lauder Cos.
By Praveen Paramasivam May 18 (Reuters) - Gourmet Investments Hospitality Group, which runs PizzaExpress and Chili's in India, plans to double its restaurant count over the next three years and to
Preliminary settlement papers filed in Manhattan federal court show the proposed agreement is still subject to approval by Judge Arun Subramanian.
Malone's lawyers argue the perfumer has every right to use her own name, and wonder why the Estée Lauder Cos. has filed suit now, 14 years after the founding of Jo Loves, and seven years after the first fragrance collaboration with Zara.
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