The Catalan beauty and fragrance specialist has just completed a “historic” 2024 financial year, marked by its IPO and record sales. In doing so, it exceeded investors’ expectations.
Catalan group Puig finished 2024 better than it started.
While its first-half results had disappointed investors, the perfume, beauty and fashion specialist ended the year with a pleasant surprise.
Sales for the company whose portfolio includes brands such as Paco Rabanne, Jean-Paul Gaultier, Carolina Herrera and Charlotte Tilbury, and licenses such as Christian Louboutin and Adolfo Dominguez, soared by +11.3% on a reported basis, and +10.9% on a like-for-like basis, to 4.79 billion euros compared to fiscal 2023, according to a group press release issued on January 30.
Better than forecast
Puig has thus outperformed the expectations of analysts, who were only expecting single-digit growth for the festive season and the high-end beauty market. In the fourth quarter, net sales growth accelerated to +14.3% on a comparable basis to 1.362 billion euros, driven by the Fragrance and Fashion division ( +21.0% on a reported basis and on a like-for-like basis (+15.3% excluding the impact of Argentina)…
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Read also > Puig’s half-year results displease the stock market
Featured photo: © Jean-Paul Gaultier
