Top Companies Report

25. Puig

August 11, 2011

Spain

www.puig.com


Sales: $1.1 billion


Key Personnel:

Marc Puig Guasch, chairman and chief executive officer; Manuel Puig Rocha, vice-chairman; Jose Manuel Albesa, chief brand officer; Javier Bach, chief operating officer; Eulalia Alfonso, chief human resources officer; Joan Albiol, chief financial officer.


Major Products:

Fragrances—Paco Rabanne, Comme De Garçons, Carolina Herrera, Nina Ricci, Prada, Antonio Banderas, Shakira, Agua Brava, Brummel, Pacha, Quorum, Sportman. Cosmetics—Vitesse, Payot. Toiletries—Denenes, Lactovit, Heno De Pravia.


New Products:

Lady Million, 212 VIP, L’Élixir de Nina, Valentina (September), Prada Candy (September).


Comments:

Watch out fragrance world, Puig is on a tear. During the past five years, the firm has increased its global marketshare of the prestige perfume industry from 3.7% to 7%. The company contends it has been responsible for 35% of the industry’s global growth during the past five years.


In 2010, Puig generated net revenues of $1.6 billion, with its fashion business accounting for a quarter of that. Even though Spain remains the main market for Puig, 75% of its net revenues came from international markets. Five years ago international markets represented 62%. Net profit attributed to the group was $172 million, a 57% increase on the previous year, according to the company.


Success last year came from what Puig called “extraordinary growth” of the Paco Rabanne brand, thanks to One Million, a scent which has occupied top positions on global bestseller lists since its debut in 2008. Company officials also had accolades for the launch of Lady Million, 212 VIP by Carolina Herrera, L’Élixir de Nina by Nina Ricci and the eau de toilette of Infusion d’Iris by Prada.

Other 2010 highlights came from its other scent stories, specifically Adolfo Domínguez (Bambú Mujer and Colección Privada), Antonio Banderas (The Secret) and Shakira (S by Shakira) in the Spanish market, which enabled Puig to maintain its leadership position in the category.


Puig has projected its 2011 sales will exceed $1.7 billion, fueled in part by upcoming fragrance launches from the likes of Valentino (the firm took over the designer’s fragrance licensing from Procter & Gamble earlier this year) and Prada, which is rolling out Prada Candy this Fall.


In May, Puig bolstered its position in fashion when it acquired majority control of Jean Paul Gaultier, purchasing the 45% stake held by Hermès International and roughly 15% from the founding couturier. However, Gaultier’s lucrative fragrance license is currently held by Beauté Prestige International, a subsidiary of Japan’s Shiseido, in a deal that runs until 2016.

Related End-User Markets:

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