Puig obtained record revenues of 3.6 billion euros in the 2022 financial year, with a growth of 40% compared to the previous year, and a net profit of 400 million, which represents an increase of 71 %. The executive president of the beauty, fragrance and fashion company, Marc Puig, spoke yesterday of “extraordinary” results in the presentation of these figures, which have exceeded the ambitious forecasts set by the group in 2021.
The company, which maintains its family character, reaffirms its goal of reaching a turnover of 4,500 million by 2025, and this year expects new double-digit growth. Despite the context of international uncertainty marked by the war in Ukraine, the impact of inflation and the rise of interest rates, Marc Puig declared himself optimistic about the evolution of the business in 2023 and said that in the first months of the year “we haven’t seen any sign of slowing down” of the market.
After the controversy over the transfer of Ferrovial’s headquarters to the Netherlands, President de Puig also wanted to highlight the company’s commitment to Barcelona, ??where they maintain their headquarters, which “has not hindered our international development”, he stressed .
The company, which 20 years ago decided to change its strategy to focus on fashion and selective perfumery, in addition to making a determined bet on its own brands, today has a presence throughout Europe, Asia and America. The United States is, in fact, the first market, followed by the United Kingdom and Spain, which today accounts for 7% of global sales (20 years ago it represented 50%).
95% of the company’s turnover comes from its own brands, which include Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten and Nina Ricci (in fashion and perfumes), in addition to Charlotte Tilbury, Uriage and Apivita (in beauty and cosmetic treatment), among others. The portfolio of brands grew significantly last year with the purchase of a majority stake in the Swedish luxury firm Byredo, and the addition of the wellness brands Kama Ayurveda (India) and Loto del Sur (Colombia).
Marc Puig emphasized that the acquisitions of the last few years have mainly been financed with own resources and specified that the net debt stands at 1,015 million euros, against an ebitda of 638 million in 2022. The company does not foresee new operations of purchase this year, to consolidate the inorganic growth of recent years, although “we continue to listen to the market in case any opportunity presents itself”.
In the category of fragrances and fashion, which accounts for 74% of Puig’s business, the company also managed to achieve a 10% global market share last year in the segment of selective distribution fragrances thanks to the strength of their own brands. The make-up business, however, grew the most, with a 52% increase following the 2020 acquisition of Britain’s Charlotte Tilbury.
With a global workforce of 10,000 people and its own offices in 30 countries, Puig plans to occupy a second building in Plaça Europa de l’Hospitalet, in front of its current headquarters, from the autumn of this year, where it will locate the center of ‘innovation.
