Top Companies Report

19. Puig

August 6, 2012


Sales: $1.7 billion

Key Personnel: Marc Puig Guasch, chairman and CEO; 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—Heno De Pravia.

New Products: CH Men Sport, Valentina eau de parfum by Valentino with ancillaries (body oil, shower gel, lotion), Prada Infusion d’Iris Eau de Parfum Absolue.

Comments: Puig continues to increase its market share worldwide in the selective perfumery sector, up from 5.1% in 2007 to 7.6% in 2011. That jump, according to the company, makes Puig the No. 7 player in the global fragrance market.

The Valentina Eau de Parfum by Valentino lineup includes body oil, shower gel and lotion.
All told, this fragrance and fashion house recorded a 12% rise in net revenues to $1.7 billion, with international markets generating 80% of that business, up from 64% in 2007. Operating profit (EBIT) was up as well to more than $270 million and net income posted a 19% gain to over $200 million.

One of the main factors behind the growth were the launches of 212 VIP Men and CH L’Eau by Carolina Herrera. Puig said 1 Million by Paco Rabanne continued to be successful by maintaining its position near the top of world rankings and the launches of Valentina by Valentino and Prada Candy by Prada fragrances were also very positive.

Prada Infusion d’Iris Eau de Parfum Absolue is new from Puig.
In addition, Antonio Banderas’ The Golden Secret, S by Shakira Eau Florale and Mango allowed Puig to maintain a significant position in the fragrance masstige category in Spain and other international markets, the firm said.

Geographically, Spain remains the main market for Puig, although the country accounted for just 20% of net revenues, down from 36% in 2007. The shrinking share stems from contraction of the Spanish market and the sale of non-strategic brands, according to Puig, which continues looking to other countries for growth. Currently, Puig sells its products in more than 130 countries and has subsidiaries in 21 of them.

Revenues in Q1 of 2012 grew by 20%, which should put Puig on track to hit its goal of topping €1,400 million in net revenues by the end of the year.


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