Buoyed by record sales in 2024, buoyed by Perfumes, the Catalan beauty specialist also achieved a higher than expected net profit. This was despite the high costs of its IPO on 3 May.
After a record year in 2024, Puig expects 2025 to be more complicated.
The Catalan beauty and perfume specialist, founded in 1914, has just unveiled highly satisfactory results for 2024 that exceed market expectations.
Its net profit grew by 14% to 531 million euros last year, while analysts quoted by financial information provider Factset only expected an average of 492 million euros.
An expensive IPO
The performance of the group, which brings together brands such as Paco Rabanne, Jean-Paul Gaultier, Carolina Herrera and Charlotte Tilbury and licences such as Christian Louboutin and Adolfo Dominguez, is all the more commendable as it includes the significant costs of its IPO on 3 May, estimated at 119.7 million euros. With this operation, the group, which is still 71.7% owned by the Puig family, which holds 92.5% of the voting rights, gave itself the means, according to its CEO, to establish a ‘market discipline’ and to facilitate the transfer from one generation to the next.
‘Our rigour and discipline have enabled us to improve our profitability and offset these exceptional costs, or to offset exceptional costs such as the IPO bonus granted to all Puig employees in recognition of their significant contribution over the years,’ said Marc Puig, the group’s CEO, in a press release.
After a record turnover in 2024, 2025 less buoyant
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Read also >Puig posts record sales for 2024
Featured photos: ©Rabanne
