Puig, the luxury fashion and beauty group behind iconic brands like Jean Paul Gaultier, Carolina Herrera, and Nina Ricci, is gearing up for its highly anticipated stock market debut. While options like the New York Stock Exchange and the Paris Stock Exchange were considered, Puig seems to be leaning towards listing on the Madrid Stock Exchange, according to sources cited by El Economista.
The decision to choose Madrid as the preferred destination for its initial public offering (IPO) is strategic. Despite Spain accounting for only a small percentage of Puig’s sales, the company believes that listing in its local market will provide it with a competitive edge, especially considering the absence of direct competitors that are publicly traded in the country. This contrasts with other major players in the luxury industry, such as Estée Lauder and LVMH, who dominate the market in the United States and France, respectively.
Puig’s valuation on the stock market is estimated to be between 8,400 million euros to as high as 15,000 million euros, based on its latest financial results. The company plans to offer a significant portion of its capital, between 25% and 49%, to potential investors, which could position it as the 18th company on the Ibex 35 if it successfully debuts on the Madrid Stock Exchange.
The move towards going public would be a historic step for Puig, as it would become the first Spanish luxury fashion and beauty company to be listed on the Spanish stock market. The IPO is scheduled for May, and all eyes are on Puig as it continues to make strides towards this significant financial milestone.
Sources:
1. El Economista
2. Financial Times
