The Spanish fashion and cosmetics group Puig remained on a growth path in the 2023 financial year.
On Thursday, the parent company of brands such as Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier and Dries Van Noten reported significant increases in sales and profits. This means that new record results have been achieved for the third year in a row, said the company, which, according to press reports, is aiming to go public soon.
Group sales reached 4.3 billion euros last year, which was an increase of 19 percent compared to 2022. Revenues in what is by far the most important division, perfume and fashion, increased by 17 percent to 3.1 billion euros.
In Asia, sales increased by more than a quarter
All market regions contributed to the significant improvement in sales with double-digit increases. In the EMEA region, which includes Europe, the Middle East and Africa, revenues rose by 18 percent to 2.3 billion euros, and in America they also increased by 18 percent to 1.5 billion euros. In the Asia-Pacific region, the group even achieved an increase of 26 percent to 439 million euros, not least thanks to good business in China (+27 percent).
The result also continued to improve. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 849 million euros, exceeding the previous year’s level by 33 percent. The annual surplus grew by 16 percent to 465 million euros.