Luxury fragrances and cosmetics – this is also the Spanish Puig group, which owns companies such as Carolina Herrera, Paco Rabanne and Charlotte Tilbury. After much speculation, it has now officially announced its plans to go public on the Spanish stock exchange via an IPO.
About Puig
Puig is a Spanish family-owned company based in Barcelona that represents more than 14 popular cosmetics brands, including Charlotte Tilbury, Paco Rabanne and Byredo, as well as several fragrance and perfume licenses. And the group has more acquisitions in the pipeline – it bought luxury skincare brand Dr Barbara Sturm in January and plans to further diversify into skincare and make-up.
In recent years, the group has controlled 11% of the global premium fragrance market. In 2023, Puig reported net sales of €4.3 billion, up 19%, while net profit rose to €465 million, up 16% from the previous year.
What we know about Puig’s IPO
Puig Group is preparing for one of the largest IPOs in Spain in recent years (since 2015). According to a regulatory document published on Monday, the company plans to first sell its shares worth 1.25 billion euros and then carry out a larger secondary offering. The exact volume of shares to be floated is not specified, but Puig hopes to raise more than €2.5 billion in total.
“We believe that our status as a family-owned company that is also subject to market accountability will allow us to better compete in the international cosmetics market in the next phase of our development,” said group owner Marc Puig, adding that the publicly listed company will align its corporate structure with best-in-class family-owned companies in the global premium cosmetics sector. Leading players in the industry, such as L’Oréal and Estée Lauder, have long been publicly traded while maintaining family ownership stakes.
