Sales Surge at Puig

Puig has found riches beyond its Spanish borders. The Barcelona-based fragrance and fashion company, which is said to be eyeing an acquisition of Jean Paul Gaultier, reported that net profits rose 57% to 130 million euros, or $172.6 million, as total revenues climbed 22% to 1.20 billion euros, or $1.60 billion. A few years ago, Spain accounted for nearly 40% of the company’s sales. Last year, it dropped to 25%, according to Puig.

Operating profits, or earnings before interest and taxes, rose 89% to 184 million euros, or $244.3 million. Dollar figures are converted at an average exchange rate for the calendar year.

The company did not provide any figures for 2011, but said sales grew 22% in the first quarter and that it is gunning to surpass sales of 1.3 billion euros this year.

Puig has recently become a more aggressive — and international — player, last year acquiring the worldwide license for Valentino fragrances. Puig also counts Comme des Garçons Parfums, Prada Parfums and Payot among names in its prestige portfolio. Last year, it also launched fragrances for Adolfo Dominguez, Antonio Banderas and Shakira.

According to Monday’s data, Puig now controls 7% of the global prestige perfume business, up from 3.7% in 2005.