Estee Lauder and Spanish perfume and beauty group Puig have ended merger talks, according to reports from multiple outlets. The talks, which had explored a potential combination of the companies, would have brought a wider set of fragrance and beauty brands under a single ownership structure. Among the brands cited in coverage are Estee Lauder’s cosmetics names and Puig-related perfume brands, with some reports specifically referencing labels such as MAC, Clinique, Charlotte Tilbury, and Jean Paul Gaultier. The termination of the talks means the companies do not move forward with a proposed merger framework at this time. Both sides provide no details in the available summaries on the reasons for the decision or on whether any alternative arrangement will be pursued. The end of discussions closes the period of negotiation that had raised the prospect of greater consolidation in the global beauty industry, though the companies continue to operate independently.