The Spanish fashion and cosmetics group Puig, the parent company of brands such as Dries van Noten, Jean Paul Gaultier, Nina Ricci and Paco Rabanne, is planning to go public. The company is expected to go public in 2024 with an estimated valuation of 8 billion euros, reports the Europa Press news agency.
Spanish business and corporate newspaper Expansión reported on Thursday that the company had enlisted the services of investment banks Goldman Sachs and JP Morgan to oversee its debut on the stock market./p>
The newspaper also assumes that the size of the offer will be between 25 and 49 percent of the company’s total capital. This corresponds to the minimum required by the National Commission for the Securities Market (CNMV) for companies going public, but allows the Puig family to maintain control of the group.
According to the newspaper, Puig has reorganized its corporate structure and merged all business areas into a limited liability company in one company, Puig Brands SA. The original name of the parent company was Puig SL, but such companies cannot be publicly traded, Expansión said.
The 2022 financial year was a strong year for Puig. At that time, the company recorded record sales of 3.6 billion euros, 40 percent more than the previous year.
This translated post originally appeared on FashionUnited.nl