Editors' Top Reads: News from Estée Lauder, AS Watson, Haruharu Wonder and more...
Here are some of this week’s news and features highlights handpicked by TheIndustry.beauty team.
Superdrug owner AS Watson bets on agility and UK investment amid 'volatile' global market
I had the pleasure of attending a roundtable this week with AS Watson, marking its 185th anniversary, alongside CEO Dr Malina NGAI, as well as the leaders of Superdrug, The Perfume Shop and Savers Health Home & Beauty.
During the session (and over a wonderful breakfast), we explored the company’s long heritage and its founding links to the UK, alongside its forward-looking growth strategy. It was a morning very well spent!
A key theme was how AS Watson is positioning itself for resilience in an increasingly volatile global environment, with leadership emphasising agility, consumer trust, and continued strategic investment in the UK as central pillars of its future plans.
Ngai highlighted the group’s focus on “building a company for stability” amid ongoing geopolitical and economic uncertainty. A core element of this strategy is enabling the business to “move as one” across markets and functions, supported by growing investment in data science and generative AI to enhance efficiency and decision-making across the organisation. Read more here.
Sophie Smith, News Editor & Senior Writer.
The Interview: Haruharu Wonder founder Jae Won Jeong on scaling towards $80m in 2026
Born from a desire to create skincare that is both effective and gentle, Haruharu Wonder was founded on the belief that daily rituals should support skin health over time rather than rely on short-term, trend-driven solutions.
As K-beauty has gained global traction, Haruharu Wonder has carved out a distinct position focused on simplicity, ingredient integrity, and long-term skin health. Expansion into markets like the UK and the US has further accelerated its reach, supported by strong retail performance and growing consumer loyalty.
In this interview with TheIndustry.beauty, founder Jae Won Jeong explores the brand’s origins, philosophy, and global growth within the evolving K-beauty landscape, as it moves towards projected growth of $80 million in 2026.
Sophie Smith, News Editor & Senior Writer.
Estée Lauder ends merger talks with Puig as it continues turnaround
First reports of a merger between Estée Lauder Companies and Spanish fashion and beauty group Puig emerged in March, suggesting that a combined entity could be valued at around $40 billion, although neither company confirmed the figure.
Over the following months, updates on the talks revealed that discussions were ongoing but inconclusive.
As revealed earlier this week, one potential complication emerged when Charlotte Tilbury, founder of her eponymous premium beauty brand, sought to renegotiate her contract with Puig ahead of a planned merger.
According to Tillbury's agreement with Puig, the founder would have the right to complete a forced sale of her entire 21.5% stake, which would be triggered if Puig undergoes a merger or ownership change. This could create a financial liability for Puig that would see it having to pay out several hundred million euros, which Estée Lauder would not be willing to assume, according to sources consulted by the Spanish paper Expansión,
The Estée Lauder Companies and Puig have since ended discussions regarding a potential business combination, bringing speculation over a deal that could have created one of the world’s largest beauty groups to a close.
Camilla Rydzek, Senior News & Features Writer.
