Spanish beauty and fashion group Puig increased its turnover by 19 per cent last year. The company reports that it achieved a total of 4.3 billion euros in sales. Sales also rose by 19 per cent in the previous year. This strong performance was seen in all the company's business segments.

CEO Sees Corporate Strategy as Confirmed

CEO Marc Puig believes that these results affirm the company's strategy of focusing on own brands and prestige products while strengthening its role as a leader in niche fragrances and make-up. The Spanish company's portfolio includes Rabanne and Jean Paul Gaultier, among other brands. According to Puig, both of these performed well in 2023. Rabanne's net revenues in the fragrance & fashion segment surpassed the one-billion-euro mark, while Jean Paul Gaultier achieved the most rapid growth.

The company states that it increased its revenues from make-up products by 23 per cent. The key driver of this development was the Charlotte Tilbury brand, but Rabanne also played its part. Puig says that the brand's newly launched make-up line is boosting its appeal among new and diverse audiences.

Skincare Is the Fastest-Growing Segment

The skincare segment posted the strongest growth, with revenues rising by 31 per cent. According to the company, the Charlotte Tilbury Magic Cream was the top performer. However, together with brands Loto del Sur and Kama Ayurveda, which were both acquired in 2022, science-based dermatology products from Uriage and Apivita also significantly contributed to the segment's double-digit growth.

Source: Puig