Puig continued to grow in the third quarter of the current 2025 financial year.
The Spanish fashion and beauty group, which includes brands such as Carolina Herrera, Jean Paul Gaultier and Rabanne, achieved sales of 1.3 billion euros in the quarter ending September 30, an increase of 3.2 percent compared to the previous year. However, Puig’s management says growth is +6.1 percent on a like-for-like basis and at constant exchange rates.
Together with the sales from the first quarter of 1.2 billion euros (+7.9 percent growth year-on-year) and the income from the second quarter of 1.1 billion euros (+3.89 percent), this results in total sales of 3.6 billion euros for the first nine months of the financial year, an increase of 4.9 percent compared to the same period last year.
“Puig completed another solid quarter, supported by sustained growth across all business areas and the strength of our brands,” said CEO Marc Puig.
Decline in sales in America
The trends already observed at the end of the second quarter continued in the third quarter. The continued influence of exchange rates affected all of Puig’s business areas. This particularly affected the key segment ‘Fragrances and Fashion’, whose sales stagnated at 932.4 million euros (+0.04 percent). In contrast, sales in the ‘make-up’ area increased significantly and reached 230 million euros (+14.7 percent). Revenue in the ‘Beauty’ category also rose to 134.5 million euros (+8.2 percent).
In terms of markets, the Europe, Middle East and Africa (EMEA) region, which also includes the Spanish home market, remains the strongest in terms of sales. There, Puig achieved total sales of 699.3 million euros (+3.4 percent). However, this positive growth was affected by exchange rate effects in America. The company’s income there fell to 463.7 million euros (-2.7 percent).
At the same time, the company is diversifying its sources of income. Business in the Asia-Pacific region recorded remarkable growth with quarterly sales of 133.9 million euros (+28.5 percent), although the overall share is still lower.
Confirmation of the outlook
The company has confirmed its outlook for 2025 for the remainder of the financial year. Sales growth on a comparable basis is expected to be between six and eight percent. In addition, the adjusted margin of earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to increase in line with the growth of 12.3 percent in the 2024 financial year. These forecasts are based on developments in the third quarter and what the company says is a “solid start to the fourth quarter”.
“We enter the Christmas season with full confidence. This is thanks to our strong execution ability, our disciplined management and relevant product launches, including ‘La Bomba’ by Carolina Herrera,” said Marc Puig. “We thereby confirm the commitments made at the beginning of the year,” he added.
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