Puig Gross sales Rose 19% to €4.3 billion in 2023

The Spanish conglomerate is on monitor to hit its aim of €4.5 billion in annual gross sales by 2025 forward of schedule.

Puig, introduced document 2023 outcomes of €4.3 billion ($4.68 billion), a 19 p.c enhance year-over-year. Earnings earlier than curiosity, taxes, depreciation, and amortisation rose 33 p.c to €849 million ($925 million).

The Spanish conglomerate noticed development throughout all sectors and areas, with its perfume and vogue division rising by 17 p.c, together with prime sellers Rabanne’s 1 Million perfume, Carolina Herrera’s Good Woman fragrance and the launches of Jean Paul Gaultier’s Le Male Elixir and Gaultier Divine.

Make-up gross sales rose 23 p.c to €773 million ($842 million), due to the success of Charlotte Tilbury, which the corporate bought in 2020. Skincare, boosted by Charlotte Tilbury’s hit Water Cream and merchandise from dermatology manufacturers Uriage and Apivita, was the corporate’s quickest rising section.

Not like opponents Estée Lauder Corporations and Shiseido, which noticed gross sales slumps as a consequence of poor efficiency in China, Puig reported development of 26 p.c to €439 million ($478 million) for the 12 months within the Asia-Pacific area. Pushed by the recognition of Charlotte Tilbury and Byredo, Puig’s China gross sales elevated 27 p.c in 2023.

”Now we have achieved these sturdy outcomes due to our technique of build up a portfolio of owned manufacturers, specializing in status merchandise and increasing our management in area of interest fragrances and make-up,” stated Marc Puig, chief govt and chairman of Puig in an announcement.

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