Puig Stories 14% Rise in Vacation Gross sales

THE WHAT?  Puig, the Spanish magnificence and perfume powerhouse behind manufacturers resembling Carolina Herrera, Rabanne, and Jean Paul Gaultier, reported a 14.3% enhance in fourth-quarter gross sales, surpassing analyst forecasts for the essential vacation season.

THE DETAILS  Puig’s fourth-quarter web gross sales reached €1.36 billion ($1.42 billion), exceeding the €1.30 billion anticipated by analysts. As 73% of Puig’s complete income comes from perfume, the vacation quarter—encompassing Black Friday and Christmas—is a key driver of development, with practically half of its status perfume gross sales occurring throughout this era.

The corporate’s perfume and trend enterprise was the highest performer, with manufacturers resembling Carolina Herrera and Jean Paul Gaultier seeing robust momentum. Nevertheless, the make-up section declined 7.2%, primarily because of the momentary withdrawal of Charlotte Tilbury’s Airbrush Flawless Setting Spray in December over an remoted high quality problem. Puig has since resumed shipments of the product.

THE WHY? For the complete 12 months 2024, Puig recorded €4.79 billion ($4.99 billion) in income, up 11% from 2023, outperforming the worldwide premium magnificence market, which was forecast to develop at 6%-7%. In contrast to opponents Estée Lauder and L’Oréal, which confronted sluggish demand in China, Puig benefited from its robust presence in Europe, the Center East, and the Americas, which account for over 85% of its gross sales.