Key takeaways
- Puig achieved 8% income progress to €3.9bn within the first 9 months of 2025.
- Perfume & Style stays dominant, accounting for 73% of income.
- Make-up and skincare posted double-digit progress in Q3, led by Charlotte Tilbury.
- Perfume progress slowed in Q3 in comparison with 2024, elevating future issues.
- APAC gross sales surged 35.8% in Q3, signalling robust restoration and enlargement alternatives.
Spanish luxurious firm Puig recorded 8% income progress to €3.9bn for the primary 9 months of 2025 (up by 7% on a like-for-like foundation), pushed by robust gross sales of status and area of interest fragrances.
For the third quarter of 2025, Puig achieved a turnover of €1.3bn, up by 3.2%.
Its Perfume & Style division generated €2.6bn for the primary 9 months, representing 73% of complete income. For Q3, income reached €932m, up 2.8% like-for-like.
Make-up gross sales rose by 8.3% like-for-like over the primary 9 months and surged by 18.8% in Q3, pushed by Charlotte Tilbury and Amazon US.
Skincare gross sales elevated by 9.2% for the primary 9 months and by 10.5% like-for-like in Q3 2025.
Progress was led by Charlotte Tilbury, Rabanne, Carolina Herrera, and Byredo, alongside area of interest labels together with Dries Van Noten and Penhaligon’s.
Marc Puig, President and CEO, welcomed “a stable quarter pushed by the energy of the portfolio manufacturers and rigorous execution,” whereas reaffirming the group’s confidence in reaching its annual targets.
Perfume progress slows in Q3: what it means for the business
Nonetheless, through the Q3 2025 earnings name, Marc Puig acknowledged that perfume progress slowed in Q3, as gross sales for its trend and perfume sector had been solely up by 2.8% like-for-like, in comparison with a formidable 11.1% progress in Q3 2024.
Puig expressed issues that if the pattern continues, it might impression future income.
Regardless of this slowdown, Puig mentioned he remained assured within the class’s resilience and emphasised that perfume continues to be the most important phase, accounting for 73% of Puig’s income.
APAC and rising markets: key drivers of future enlargement
Area-wise, Europe and the Americas carried out strongly.
Puig additionally famous that APAC is driving progress, partly via area of interest perfume enlargement, at the same time as international perfume demand normalises.
Within the APAC area, the corporate noticed like-for-like gross sales of €368m within the first 9 months of 2025, up 23%. Within the third quarter, gross sales reached €134m, up 35.8%.
Geographic enlargement stays a major alternative, particularly in rising markets reminiscent of Mexico and the broader APAC area.
