Foto Angel Garcia/Bloomberg News
According to him, discussions about a possible merger with Estée Lauder did not result in a deal. However, the very fact of negotiations, he noted, confirmed Puig’s high valuation in the global beauty industry market, FasionNetwork writes.
Puig emphasized that a potential merger would require agreement on three key blocks – the corporate governance structure, the business governance model and economic terms that “fairly reflect the value of the company and the interests of all parties.” Even if negotiations were successful, he said, the family would retain its status as a long-term shareholder.
“We have a sustainable long-term project with strong brands, team, balance sheet and more than 110 years of history,” he said.
Puig CEO Jose Manuel Albesa, for whom it was the first shareholder meeting in his new role, called the company “the fastest growing multi-brand player in premium cosmetics in the last five years.”
He noted that Puig is strengthening its position in several areas at once, from prestige perfumes to niche brands and the dermatology segment, betting on a more balanced and global growth model.
The company reiterated forecasts for 2026 and announced that it will hold a Capital Markets Day on October 28 in Madrid.
Shareholders also approved a dividend of €0.42159 per share – representing about 40% of net income. In addition, the meeting approved personnel appointments to the board of directors, including the appointment of Albesa as executive director and Julie Van Ongewalle as an independent board member.
All items on the agenda were approved, including the financial year 2025 accounts and the sustainability report.
