Puig studies double-digit development pushed by perfume in 2024

Spain’s magnificence and vogue group Puig (Rabanne, Jean Paul Gaultier, Carolina Herera, Charlotte Tilbury, Nina Ricci, Penhaligon’s, Byredo, Apivita…) introduced on Thursday, January 30, a 14.3% improve in its gross sales in This fall and 10.9% for the entire of the 2024 monetary 12 months. Annual internet gross sales totaled 4.79 billion euros (USD 4.99 billion), surpassing analysts’ expectations of roughly 4.72 billion euros.

Perfume was the primary driver of the corporate’s development in 2024. Puig’s Perfume and Trend enterprise grew by 13.6%, accounting for 73% of the corporate’s complete income.

“Jean Paul Gaultier, Puig’s quickest rising model, accomplished an impressive 12 months. In 2024 it entered the highest 10 perfume rating for the primary time in its historical past, whereas Le Male is estimated to turn into the #3 masculine perfume line worldwide. Good Woman Carolina Herrera had a constantly robust efficiency all year long, and is predicted to keep up its standing because the #2 female perfume line worldwide and has achieved the numerous milestone of turning into the #1 female perfume line within the US in 2024,” mentioned the group in a media assertion.

So far as they’re involved, area of interest perfume manufacturers continued to indicate “compelling development,” with double digit performances from Penhaligon’s, L’Artisan Parfumeur and Dries Van Noten.

Skincare noticed a lift, as nicely, up 7.4% like-for-like to EUR 516 million (USD 537 million).

The group’s dermo-cosmetics manufacturers, particularly, continued to carry out strongly, with Uriage delivering double-digit development.

Puig continued its diversification within the phase with the acquisition of Dr. Barbara Sturm in January 2024.

Make-up, nonetheless, declined by 1.3%. Charlotte Tilbury, Puig’s largest contributor to this class, posted a flat efficiency within the phase versus 2023.

“2024 was a historic 12 months for Puig, by which we celebrated our a hundred and tenth anniversary and have become a publicly listed firm. The desirability and power of our manufacturers and geographic footprint have enabled us to outperform the premium magnificence market in addition to our mid-term income development steering,” mentioned Marc Puig, Chairman and CEO of Puig.