The Spanish fashion and cosmetics group Puig presented its sales figures for the second quarter of 2025 on Wednesday. According to the parent company of brands such as Carolina Herrera and Jean Paul Gaultier, the development was influenced by exchange rate effects, in particular by the weakness of the US dollar as a result of the customs policy initiated by President Donald Trump.
Puig reported a net turnover of 1.09 billion euros for the second quarter of 2025. This corresponds to growth by almost 3.9 percent compared to 1.05 billion euros in the previous year. Together with the turnover of the first quarter of EUR 1.21 billion (+7.9 percent), net sales of EUR 2.30 billion (+5.9 percent) result in a total of EUR 2.30 billion in 2025. The growth recently was significantly more moderate than at the beginning of the financial year or in the first half of 2024, in which the group had achieved a sales increase of 9.6 percent.
Marc Puig, the Puig Chairman and CEO, commented on the numbers: “In the first half of 2025, we were able to record a strong and constant growth of 7.5 percent in the first quarter and 7.7 percent in the second quarter on a comparable basis.” He emphasized the solid performance of the individual segments and regions, which evidence of the resistance of the brand portfolio in a changing market. The recovery in the make-up segment in the second quarter is encouraging. The group is still confident of growing more than the premium beauty market and maintains its forecast for 2025.
Slowed growth in America and in the “Schaft und Mode” business area
In the second quarter of 2025, growth in the “Schaften und Mode” business area slowed down significantly. The increase rate fell from 10.4 percent in the first quarter to 2.4 percent. The quarterly turnover in this segment amounted to 788.3 million euros. Puig justified this with negative exchange rate effects. The make-up business developed significantly more positively. After a loss of sales in the opening quarter, it returned to the growth path with an increase of 7.4 percent to EUR 173.8 million in the second quarter. The “skin care” area increased its sales by 8.3 percent to 131.3 million euros.
The EMEA region, which includes Europe, the Middle East and Africa, remained the most important source of income for Puig in the second quarter with sales of 555 million euros. There, the proceeds grew by 3.4 percent after they gained 4.3 percent in the first quarter. In the America region, business suffered from the weakness of the dollar, a consequence of the customs policy initiated by US President Trump. This led to an increase in sales from 1.6 percent to 416 million euros, after the sales there had grown by 11.5 percent in the opening quarter. In the Asia-Pacific region, revenues rose by 14.9 percent to 122.5 million euros. This increased the pace of growth compared to the first quarter (+14.5 percent).
The group confirms its forecast
The forecast for the entire financial year remained unchanged. Puig continues to expect a increase in sales on a comparable basis between six and eight percent and an improvement in the adjusted EBITDA margin.
This article was used with digital tools translated.
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