What luxurious slowdown? Puig storms Q3 2024; income up 11.6 p.c

THE WHAT? Puig has reported its outcomes for the third quarter of fiscal 2024. The Spanish perfume agency noticed web income soar a formidable 11.6 p.c to €1,257 million, outperforming the premium magnificence market.

THE DETAILS Skincare was the strongest sector, with Q3 income up 18.6 p.c, whereas Perfume and Vogue delivered robust 11.1 p.c development and Make-up rose a good 7.3 p.c.

By area, Q3 income for the EMEA area leapt 13.9 p.c whereas the Americas jumped 9.8 p.c and Asia-Pacific inched up 1 p.c.

THE WHY? Development was led by the double-digit development of each Puig’s core enterprise phase, perfume and style, and Puig’s largest market, EMEA.  Marc Puig, Chairman and CEO, reveals, “Puig delivered double-digit income development within the third quarter amid a fancy working surroundings for the sector. This consequence highlights the well being and resilience of our core enterprise — notably fragrances — which noticed an acceleration in Q3 and continues to outperform the premium magnificence market.

“Our product and geographic range, mixed with the power of our manufacturers and focused investments, have enabled us to ship stable income and revenue development throughout the corporate. With web income up 9.6 p.c like-for-like within the first 9 months of the 12 months, we stay assured in our skill to outperform the premium magnificence market, attaining our medium-term steerage.”