Estee Lauder CEO says talks with Puig ongoing, no deal to announce yet
Estee Lauder and Puig: Ongoing Negotiations and Strategic Outlook
Current Status of Estee Lauder and Puig Discussions
FASANO, Italy, May 19 (Reuters) - Estee Lauder's chief executive said on Tuesday that talks with Puig over a potential combination to create the world's largest premium beauty player were ongoing, but there was no announcement to make yet.
"We are in discussion ... when we are ready to announce when we're over, we will keep you posted", CEO Stephane de La Faverie said at the FT Business of Luxury Summit in Apulia, Italy.
Background of the Potential Tie-Up
The two companies said in March they were in talks over a potential tie-up that would bring brands including Tom Ford, Carolina Herrera, Rabanne, Jean Paul Gaultier and Clinique under one roof.
Estee Lauder's Acquisition Strategy
The CEO said acquisitions have long been part of Estee Lauder's strategy.
Organic vs. Inorganic Growth Approaches
"Organic (growth) remains the most important one. It shows the desirability, the continuity or the power of the brands that we have in our portfolio. But sometimes you need inorganic (growth) for new geographies, for diversification, new categories", he added.
(Reporting by Elisa Anzolin, editing by Alvise Armellini)
