Sales: $1.43 billion
Key Personnel: Marc Puig, chairman and chief executive officer; Manuel Puig, vice-chairman; Jose Manuel Albesa, chief brand officer; Javier Bach, chief operating officer; Eulalia Alfonso, chief human resources and legal officer; Joan Albiol, chief financial officer
Major Products: Fragrances—Paco Rabanne, Carolina Herrera, Prada, Adolfo Dominquez, Antionio Banderas; Cosmetics and personal care—Payor, Unica, Vitesses, Payot, Única, Vitesse, Heno de Pravia, Lactovit, Maja, Tresemmé (distributor).
New Products: Prada Infusion de Fleur d’Oranger, Comme de Garcons Silver Words limited edition fragrance, Carolina Herrera 212 on Ice limited edition scents, Antionio Banders Seduction in Black.
Comments: Puig’s sales in 2008 rose an impressive 8.5% over 2007 results. Cosmetics, fragrances and personal care sales were $1.43 billion and corporate sales were $1.5 billion.
Fragrances accounted for 81% of net revenues while cosmetics and personal care accounted for 13%. The rest of the company’s net sales come from its fashion group.In addition, based on the strong growth, Puig went from having a net debt of $169 million in 2004 to a positive net cash position of $142 million in 2008.
The firm’s perfumery sales rose 8.8% in 2008. Paco Rabanne proved to be the star, posting growth of 43%. The company attributed the gain to the launch of One Million, which became No.1 scent in France and Spain and a top 10 performer in all main markets where it was stocked. Carolina Herrera perfume sales rose 11.3% while revenues for Prada fragrances jumped 13.6%.
Infusion d Iris by Prada won the Fragrance Foundation’s 2008 Fragrance of the Year award in the Women’s Nouveau Niche category.