8 hours ago
2
Puig is not feeling the signs of a beauty or luxury slump. On Thursday, the Spanish company reported a record €4.79 billion ($4.98 billion) in net revenue for the full year in 2024, representing a 10.9% increase in like-for-like sales from the previous year. For the fourth quarter of 2024, Puig reported €1.36 billion ($1.41 billion) in revenue, or an increase of 14.3% compared to Q4 2023.
“2024 was a historic year for Puig, in which we celebrated our 110th anniversary and became a publicly listed company. Once again, we delivered record revenues, driven by the exceptional performance of our core fragrance business,” said Marc Puig, chairman and CEO of Puig.
Fragrance was a major driver of 2024’s growth. Puig’s Fragrance and Fashion segment, which includes the likes of fragrance lines from Jean Paul Gaultier and Nina Ricci, reported a growth of 13.6%, accounting for 73% of the company’s total revenue. Skin care saw a boost, as well, delivering €516 million ($537 million) in net revenue for the full year of 2024, representing an increase of 19.8%.
Continue reading this article on glossy.co. Sign up for Glossy newsletters to get the latest on the business of beauty, fashion and pop culture.
English (US) ·