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The Spanish fashion and beauty group has surpassed 3.6 billion euros in sales and reached 400 million euros in net profit in 2022. This is the second consecutive year of record results.
This is a historic record for Puig, which owns the brands Paco Rabanne, Jean Paul Gaultier, Dries Van Noten and Nina Ricci.
The luxury group closes the year 2022 with net revenues of 3.6 billion euros, up 40% compared to 2021, driven by the good performance of its brands thanks to the return of consumption.
The company recorded EBITDA of EUR 638 million, up 37%. Net profit grew by 71% to 400 million euros. Record results for the second year in a row despite inflation, rising commodity prices and geopolitical conflicts.
In March 2021, when presenting its three-year plan, Puig aimed at sales of 3 billion euros in 2023 and 4.5 billion euros in 2025. A strategy that planned to double them in three years and triple them in five years. Thanks to growth in the last two years, the Spanish company has exceeded its target a year earlier, doubling its sales in 2022 compared to 2020. This puts it in the best position to reach its goal of 4.5 billion euros in revenue by 2025.
Puig owes this scalable growth to a number of acquisitions during 2022. The company has obtained a majority stake in Byredo, a Swedish luxury company, and has established the Kama Ayurveda wellness brands in India and Loto del Sur in Colombia. These companies share the same responsible commitments and a direct link with the consumer. With these new acquisitions, the number of points of sale has increased and more than 1,000 new employees have been integrated.
All the lights are green
2022 was a flourishing year for all the group’s categories: Perfumes, Fashion, Make-up and Skincare.
The Fashion and Perfumes business line saw its growth accelerate and exceed the market average, with a +40% increase in net revenues. In 2022, Puig achieved a +10% increase in global market share in the Selective Retailing Perfumes category, thanks to the strength of the brands in its portfolio, such as Paco Rabanne and Carolina Herrera, which are present in the top 10 worldwide.
Prestige brands performed very well, driven in particular by the success of the perfumes Fame by Paco Rabanne and Very Good Girl by Carolina Herrera and Scandal by Jean Paul Gaultier.
Fashion also played an important role in the group’s growth. Notably with the success of numerous collaborations in Haute Couture and luxury ready-to-wear for Jean Paul Gaultier, the arrival of the talented Harris Reed as artistic director of Nina Ricci, but also thanks to increasingly innovative proposals from Julien Dossena at Paco Rabanne.
But despite very good results for Fashion and Perfumes, cosmetics still dominate, with the group’s strongest revenue growth (+52%). This growth was driven by the Charlotte Tilbury brand, No. 1 in the United Kingdom, and Carolina Herrera, which recorded its best results since the launch of its make-up line in 2020.
Fluctuating multi-channel experiences
Puig increased its net revenues by 23% on digital with digital sales. Today, this channel represents 25% of its total revenue. This is a rather positive development, although consumers have returned to their pre-covid habits, preferring in-store purchases to online sites.
The group, which is in full development, is present on three digital channels: e-commerce, e-tailing (a combination of e-commerce, local stores and paper catalogs) and distributors with exclusively online sales.
The travel retail channel has seen a 72% increase in 2022, thanks to the return of American and European travelers. The importance of this channel was demonstrated in 2022, with the pre-launch of Paco Rabanne’s Fame perfume.
All in all, 2022 proved to be more than positive for the group. For the new fiscal year, Puig remains cautious, although its forecasts exceed those of the market growth. This is already confirmed by the very positive performance of the first two months of 2023.
Read also >Jean-Paul Gaultier and J.M. Weston join the Comité Colbert
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The Spanish fashion and beauty group has surpassed 3.6 billion euros in sales and reached 400 million euros in net profit in 2022. This is the second consecutive year of record results.
This is a historic record for Puig, which owns the brands Paco Rabanne, Jean Paul Gaultier, Dries Van Noten and Nina Ricci.
The luxury group closes the year 2022 with net revenues of 3.6 billion euros, up 40% compared to 2021, driven by the good performance of its brands thanks to the return of consumption.
The company recorded EBITDA of EUR 638 million, up 37%. Net profit grew by 71% to 400 million euros. Record results for the second year in a row despite inflation, rising commodity prices and geopolitical conflicts.
In March 2021, when presenting its three-year plan, Puig aimed at sales of 3 billion euros in 2023 and 4.5 billion euros in 2025. A strategy that planned to double them in three years and triple them in five years. Thanks to growth in the last two years, the Spanish company has exceeded its target a year earlier, doubling its sales in 2022 compared to 2020. This puts it in the best position to reach its goal of 4.5 billion euros in revenue by 2025.
Puig owes this scalable growth to a number of acquisitions during 2022. The company has obtained a majority stake in Byredo, a Swedish luxury company, and has established the Kama Ayurveda wellness brands in India and Loto del Sur in Colombia. These companies share the same responsible commitments and a direct link with the consumer. With these new acquisitions, the number of points of sale has increased and more than 1,000 new employees have been integrated.
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The Spanish fashion and beauty group has surpassed 3.6 billion euros in sales and reached 400 million euros in net profit in 2022. This is the second consecutive year of record results.
This is a historic record for Puig, which owns the brands Paco Rabanne, Jean Paul Gaultier, Dries Van Noten and Nina Ricci.
The luxury group closes the year 2022 with net revenues of 3.6 billion euros, up 40% compared to 2021, driven by the good performance of its brands thanks to the return of consumption.
The company recorded EBITDA of EUR 638 million, up 37%. Net profit grew by 71% to 400 million euros. Record results for the second year in a row despite inflation, rising commodity prices and geopolitical conflicts.
In March 2021, when presenting its three-year plan, Puig aimed at sales of 3 billion euros in 2023 and 4.5 billion euros in 2025. A strategy that planned to double them in three years and triple them in five years. Thanks to growth in the last two years, the Spanish company has exceeded its target a year earlier, doubling its sales in 2022 compared to 2020. This puts it in the best position to reach its goal of 4.5 billion euros in revenue by 2025.
Puig owes this scalable growth to a number of acquisitions during 2022. The company has obtained a majority stake in Byredo, a Swedish luxury company, and has established the Kama Ayurveda wellness brands in India and Loto del Sur in Colombia. These companies share the same responsible commitments and a direct link with the consumer. With these new acquisitions, the number of points of sale has increased and more than 1,000 new employees have been integrated.
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