While market analysts fear a total dilution within the American multinational, those close to the Puig family believe the deal will function more like a joint venture. Despite Estée Lauder's massive 12 billion euro annual revenue, the Catalan firm intends to keep its strategic headquarters in Barcelona.
“"Puig will remain in Catalonia regardless of whether the US giant incorporates it or not."
The move is seen as a strategic shield against competitors like L'Oréal. By partnering with another global player, Puig hopes to strengthen its market position while maintaining its significant influence in local institutions such as Barcelona Global and the Real Club Náutico.
