Puig, a high-end cosmetics firm based in Catalonia, has officially announced its initial public offering (IPO) in the home market. The company aims to exceed valuations of 10,000 million euros by placing a minority share among institutional investors and raising over 2,500 million euros through a public offer for the sale of shares.
The family-led company, founded over a century ago, will maintain control of the company through a majority stake after its IPO. Marc Puig, the third generation leading the company, expects to finalize the price of its stock market debut at the end of April and take the first steps on the stock market at the beginning of May.
Puig operates in 32 countries with 17 brands specializing in fragrance, fashion, makeup, and skin care segments. In 2023, it achieved a market share of 11% in fragrances and recorded strong growth in all regions. Revenue from the makeup and skin care segments saw significant increases last year, contributing to the company’s overall success.
The luxury sector operates on high margins, with Puig reporting a 20% margin in 2023 and strong financial performance. Net income reached 4,304 million euros with revenue increasing significantly across all segments. The company’s level of debt slightly exceeds its EBITDA, reflecting its growth and expansion strategies.
Puig continues to strengthen its position in the market by offering a wide range of products and services to cater to different consumer needs. Its upcoming IPO is seen as a strategic move to align with market trends and enhance its competitive edge in the global beauty industry.
Overall Puig’s IPO is an important milestone for this family-led business that has been growing steadily over time. With their focus on quality products and strong financial performance they are well positioned for continued success as they enter this new stage in their history.
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