The traditional Spanish company Puig, which specializes in perfumery, fashion and cosmetics, was able to complete its first financial year as a listed company with total sales of 4.79 billion euros. According to preliminary results, this corresponds to an increase of around 11.3 percent compared to the previous year, when Pu generated sales.
The company was able to grow by 129 percent compared to 2019, the last year before pandemic and the following international (consumption) crises. The portfolio of Puig, which was founded in 1914 and is located in Barcelona and Paris, includes fashion brands such as Rabanne, Carolina Herrera, Jean Paul Gaultier, Nina Ricci and Dries van Notes as well as beauty licenses by Christian Louboutin, Banderas and Adolfo Dominguez.
“2024 was a historical year for Puig, in which we celebrated our 110th anniversary and became a listed company,” said Marc Puig, CEO of Puig. “At the end of the last financial year, we again achieved a record turnover, which is due to the excellent results of our core business in the field of perfume and to our main regions EMEA and America”.
The core segment “fragrance and fashion” recorded growth of 13.6 percent for the year as a whole and made 73 percent of total sales. The “Make-Up” segment with brands like Charlotte Tilbury, on the other hand, had to accept a decline in sales of 1.3 percent and contributes 16 percent to total sales. Despite the weaker net sales growth, Charlotte Tilbury still had his position as number 1 in Great Britain and was able to reach the 3rd place among the make-up brands in the United States for the whole year, according to the company in a press release.
The sales could be increased in all regions. Core market EMEA rose by 12.8 percent on annual sales of 2.62 billion euros. With sales of 1.7 billion euros, the America region made an increase of 11.1 percent. In the Asia-Pacific region, sales rose by 3.7 percent to EUR 455.1 million.
Puig will publish the final results for 2024 on February 27.