Puig, a renowned Spanish company known for its expertise in fragrances and fashion, has set ambitious sales targets for its iconic brands Paco Rabanne and Carolina Herrera. The company is striving to achieve 1 billion euros in sales for each brand in the near future, with an ultimate goal of reaching a total revenue of 3 billion euros. José Manuel Albesa, the president of brands, markets, and operations at Puig, unveiled this plan during a presentation at the FT Business of Luxury Summit.
In order to bolster market share and drive sales, Puig is exploring both acquisition opportunities and avenues for organic growth. By empowering brands like Carolina Herrera and Paco Rabanne to achieve the 1 billion euro sales milestone, the company believes it can ultimately reach its overarching revenue objective. Albesa stressed that Puig’s focus is on launching innovative products and implementing new strategies to fuel international expansion, rather than seeking merger options.
Moreover, Puig is actively expanding its footprint in the Asian market by investing in makeup brands and accessories. Recent acquisitions in countries like India and Colombia have enabled the company to craft a distinctive approach while upholding its identity as a family-owned business. Albesa underscored the significance of Puig’s Mediterranean heritage in shaping their global outlook and pursuit of growth.
In addition to Carolina Herrera and Paco Rabanne, Puig’s brand portfolio includes names like Jean Paul Gaultier and Nina Ricci. The company posted a net profit of 242 million euros in 2018, marking a 6% increase from the previous year, with total revenues amounting to 1.93 billion euros. A substantial portion of Puig’s sales is attributed to international markets, which contribute 86% of the revenue. Of this, European markets and the United States account for 45%, emerging markets for 41%, and Spain for the remaining 14%.
Puig’s dedication to maintaining market positions in the beauty sector, exemplified by brands like Granado in Brazil and Kama Ayurveda in India, highlights its commitment to local and regional platforms. As the company continues to progress and adapt, guided by its strong family ethos and strategic acquisitions, Puig is poised for sustained success within the global fashion and fragrance landscape.
To learn more about Puig and its iconic brands, please visit their official website here. For insights on the latest trends in luxury fashion and fragrance, explore the FT Business of Luxury Summit here.
