The Spanish fashion and beauty group has surpassed 3.6 billion euros in sales and reached 400 million euros in net profit in 2022. This is the second consecutive year of record results.
This is a historic record for Puig, which owns the brands Paco Rabanne, Jean Paul Gaultier, Dries Van Noten and Nina Ricci.
The luxury group closes the year 2022 with net revenues of 3.6 billion euros, up 40% compared to 2021, driven by the good performance of its brands thanks to the return of consumption.
The company recorded EBITDA of EUR 638 million, up 37%. Net profit grew by 71% to 400 million euros. Record results for the second year in a row despite inflation, rising commodity prices and geopolitical conflicts.
In March 2021, when presenting its three-year plan, Puig aimed at sales of 3 billion euros in 2023 and 4.5 billion euros in 2025. A strategy that planned to double them in three years and triple them in five years. Thanks to growth in the last two years, the Spanish company has exceeded its target a year earlier, doubling its sales in 2022 compared to 2020. This puts it in the best position to reach its goal of 4.5 billion euros in revenue by 2025.
Puig owes this scalable growth to a number of acquisitions during 2022. The company has obtained a majority stake in Byredo, a Swedish luxury company, and has established the Kama Ayurveda wellness brands in India and Loto del Sur in Colombia. These companies share the same responsible commitments and a direct link with the consumer. With these new acquisitions, the number of points of sale has increased and more than 1,000 new employees have been integrated.
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