04.08.24
Puig, the privately-held Spanish cosmetics company, will go public later this year. Puig owns brands such as Carolina Herrera, Rabanne and Charlotte Tilbury. The company posted record sales in 2023 in excess of $4.4 billion. Puig is ranked No. 13 in Happi's The International Top 30.
Puig said it plans to raise more than 2.5 billion euros ($2.71 billion) in Spain's largest initial public offering in almost a decade. The family-owned company aims to sell 1.25 billion euros of new shares and an even larger amount of existing stock through the IPO, according to Reuters.
In a statement, Chairman and CEO Marc Puig,said it was “important for any family business to have the right checks and balances in place, particularly during generational transitions. We believe that the balance of being a family-owned company that is also subject to market accountability will allow us to better compete in the international beauty market during the next phase of the company’s development."
Puig has led the company since 2004. He has no plans of stepping down, but added he would be the last generation of the family to lead the business.
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Puig said it plans to raise more than 2.5 billion euros ($2.71 billion) in Spain's largest initial public offering in almost a decade. The family-owned company aims to sell 1.25 billion euros of new shares and an even larger amount of existing stock through the IPO, according to Reuters.
In a statement, Chairman and CEO Marc Puig,said it was “important for any family business to have the right checks and balances in place, particularly during generational transitions. We believe that the balance of being a family-owned company that is also subject to market accountability will allow us to better compete in the international beauty market during the next phase of the company’s development."
Puig has led the company since 2004. He has no plans of stepping down, but added he would be the last generation of the family to lead the business.
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