Puig reports third record year in a row

The Spanish fashion and cosmetics group Puig has remained on course for growth in the 2023 financial year.

On Thursday, the parent company of brands such as Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier and Dries Van Noten reported significant increases in turnover and profit. The company, which according to press reports is aiming for an IPO in the near future, has thus achieved new record results for the third year in a row.

Group turnover reached 4.3 billion euros last year, an increase of 19 percent compared to 2022. Sales in the perfume and fashion division, by far the most important, increased by 17 percent to 3.1 billion euros.

Sales increase by more than a quarter in Asia

All market regions contributed to the significant improvement in sales with double-digit growth. In the EMEA region, which includes Europe, the Middle East and Africa, sales rose by 18 percent to 2.3 billion euros, while in the Americas they also increased by 18 percent to 1.5 billion euros. In the Asia-Pacific region, the group even achieved an increase of 26 percent to 439 million euros, not least thanks to good business in China (+27 percent).

Earnings also continued to rise. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to 849 million euros, exceeding the previous year's level by 33 percent. Net profit for the year grew by 16 percent to 465 million euros.