THE WHAT? Puig, the Spanish magnificence and perfume powerhouse behind manufacturers reminiscent of Carolina Herrera, Rabanne, and Jean Paul Gaultier, reported a 14.3% improve in fourth-quarter gross sales, surpassing analyst forecasts for the vital vacation season.
THE DETAILS Puig’s fourth-quarter internet gross sales reached €1.36 billion ($1.42 billion), exceeding the €1.30 billion anticipated by analysts. As 73% of Puig’s whole income comes from perfume, the vacation quarter—encompassing Black Friday and Christmas—is a key driver of progress, with almost half of its status perfume gross sales occurring throughout this era.
The corporate’s perfume and vogue enterprise was the highest performer, with manufacturers reminiscent of Carolina Herrera and Jean Paul Gaultier seeing robust momentum. Nevertheless, the make-up section declined 7.2%, primarily as a result of short-term withdrawal of Charlotte Tilbury’s Airbrush Flawless Setting Spray in December over an remoted high quality difficulty. Puig has since resumed shipments of the product.
THE WHY? For the complete 12 months 2024, Puig recorded €4.79 billion ($4.99 billion) in income, up 11% from 2023, outperforming the worldwide premium magnificence market, which was forecast to develop at 6%-7%. In contrast to rivals Estée Lauder and L’Oréal, which confronted sluggish demand in China, Puig benefited from its robust presence in Europe, the Center East, and the Americas, which account for over 85% of its gross sales.
