Estee Lauder and perfume maker Puig have ended merger talks that would have potentially put brands like MAC, Clinique, Charlotte Tilbury and Jean Paul Gaultier under one roof.
Estee Lauder Cos. confirmed the discussions in March but said at the time that no agreement had been reached with the century-old Spanish company.
"We are grateful for the conversations we have had with Puig," Estee Lauder CEO Stéphane de La Faverie said in a prepared statement late Thursday. "Today, we are reiterating our confidence in the power of our incredible brands, our talented teams, and our strength as a standalone company."
