Wall Street Skeptical of Estée Lauder's Potential Deal with Puig Brands SA

Estée Lauder's potential deal with Puig Brands SA could increase profitability and reduce reliance on Asia and duty-free stores, but investors are skeptical due to execution risks and the company's ongoing turnaround. Estée Lauder is navigating a massive transformation of its 24 brands, and integrating another company could be complex and distracting. Analysts are cautious about the deal, citing the company's struggles to incorporate smaller brands in the past and the poor track record of big cross-border acquisitions.