Spanish group Puig, known for owning brands like Paco Rabanne, Nina Ricci, and Jean-Paul Gaultier, has experienced significant growth following the pandemic. In 2022, the company reported a net revenue of €3.62 billion, a notable 40% increase compared to the previous year. Additionally, net profit rose by 71% to €400 million.
These record-breaking figures for 2022 are a source of pride for Puig. The fashion, perfume, and cosmetics group achieved outstanding performance, closing the year with the highest net revenues in its history. The €3.62 billion revenue represents a 40% growth compared to 2021, taking into account constant exchange rates and comparable scope. Net profit also soared, reaching €400 million, a significant increase of 71%.
These results surpass the expectations set by the group. In March 2021, Puig announced an ambitious three-year plan, aiming for €3 billion in sales by 2023. Surpassing this goal one year ahead of schedule, the company is now confident in its success and has set a new target of reaching €4.5 billion in revenues by 2025.
The impressive figures can be attributed to the successful expansion of Puig’s brand portfolio throughout 2022. The company acquired the premium beauty brand Byredo, as well as wellness brands Kama Ayurveda in India and Loto del Sur in Colombia. Currently, Puig holds a 10% market share globally in the selective fragrance distribution category, driven by the popularity of Paco Rabanne’s Fame fragrance and Carolina Herrera’s Good Girl. The group’s makeup brands are also thriving, experiencing the highest growth rate with a remarkable 52% increase, thanks to the success of Charlotte Tilbury as the top makeup brand in the United Kingdom and Carolina Herrera.
Overall, 2022 has been a successful year for luxury groups worldwide. In January, LVMH announced record-breaking sales of €79.2 billion, further highlighting the positive trend in the luxury sector.
For more information, visit:
1. Puig Brands
2. LVMH Official Website
