Puig Reports Significant Growth with Luxury Brands Driving Success

Puig Reports Significant Growth with Luxury Brands Driving Success

THE WHAT?  Puig reported a 19% increase in sales, with the Rabanne label surpassing 1 billion euros in net sales, reflecting a growth trend in the luxury beauty market. The company’s total sales reached 4.3 billion euros, bolstered by acquisitions like Dr. Barbara Sturm and Byredo, and strong performances by established brands.

THE DETAILS  Puig, holding an 11% market share in the global fragrance market, anticipates further growth with plans to expand into markets such as India, Japan, and Korea, despite a currently smaller Asian presence. This strategic outlook is supported by a 27% sales increase in China and a 16% rise in net profit to 465 million euros in 2023.

THE WHY?  The company’s growth and success in the luxury beauty market are driven by strategic acquisitions and market expansion, with a potential stock market listing considered to increase accountability and retain family control. Advised by Goldman Sachs and JPMorgan, Puig aims to strengthen its industry position and explore new growth opportunities, especially in Asia.

WELLNESS

FASHION

TRAVEL

PROFESSIONAL BEAUTY

JOBS & PEOPLE