Weekend Briefing: Puig’s flat IPO spotlights risks of the public market

8 months ago 18

Last week, Puig’s IPO led to fairly flat trading, but that was better than many other publicly traded brands in the fashion and beauty industry. Don’t forget to subscribe to the Glossy Podcast for interviews with fashion industry leaders and Week in Review episodes, and the Glossy Beauty Podcast for interviews from the beauty industry. –Danny Parisi, sr. fashion reporter

The IPO market is still flat

The first few days of trading after fashion and beauty giant Puig went public on Thursday were muted. After some analysts expected a blockbuster IPO, share prices were mostly flat through the first few days, ending any hopes that the IPO market would come roaring back.

But the IPO was in line with the $2.8 billion pricing that Puig had planned. And the first day of trading went far better than some other recent fashion and beauty IPOs. When Birkenstock went public in October, for example, its valuation of $46 per share wasn’t received well by the market and its stock slid by 21% in the crucial first week.

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