Puig, the renowned perfume, fashion, and beauty group, is reportedly making plans to go public in 2024, with a projected valuation of 8 billion euros. However, the decision is subject to the state of the market at that time, according to market sources cited by Europa Press. To facilitate its stock market debut, Puig has enlisted the services of global coordinators Goldman Sachs and JP Morgan.
This move follows Puig’s restructuring of its corporate framework four months ago. All its businesses are now consolidated under Puig Brands SA, a public limited company. Previously, Puig SL, the family-owned group, could not be publicly traded. The offering is expected to comprise between 25% and 49% of the capital, meeting the minimum requirement set by the National Securities Market Commission. However, a higher percentage might be considered to allow the Puig family to retain control over the group.
Puig has reported impressive financial performance for 2022. The company achieved a net profit of 400 million euros, a remarkable 71% increase from the previous year. Its net revenues reached 3.62 billion euros, representing a 40% growth. Puig’s operating profit (EBITDA) also improved by 37% to 638 million euros. These strong results demonstrate the company’s outstanding performance for the second consecutive year.
Going public would present both opportunities and challenges for Puig. It would provide access to capital markets, allowing the company to finance its expansion plans and solidify its position as a key player in the luxury perfume, fashion, and beauty industry. However, being a publicly traded entity would also mean facing increased scrutiny from investors and the need to maintain a strong market presence.
Puig’s potential IPO in 2024 is an exciting development for the company and the luxury sector as a whole. As one of the leading players in the industry, Puig’s public offering is expected to generate significant attention and influence the future trajectory of the global fragrance and fashion market.
Useful links relevant to the article:
1. [Puig Brands SA](https://www.puig.com/en/)
2. [National Securities Market Commission (CNMV)](https://www.cnmv.es/portal/home.aspx)
