Puig Reports 79% Increase in First-Half Profits

The Spanish group Puig has reason to celebrate. The Catalan beauty empire, parent company of famous perfume brands such as Carolina Herrera, Jean Paul Gaultier, and Paco Rabanne, among others, published its financial results for the first half of 2025 on Tuesday, and the figures are very positive: profits rose 79% to €275 million. In terms of overall revenue, Puig recorded 8% growth year-on-year, with €2.29 billion in sales between January and June 2025. The results are broadly in line with forecasts.

In early March last year, the company was listed on the Madrid, Barcelona, Bilbao, and Valencia stock exchanges. This decision proved particularly beneficial: listed at €24.50 per share, the company reached a value of €13.92 billion.

The profits also stem from the group's strategy to cope with the increase in US tariffs imposed by Donald Trump. Like other fashion and beauty brands, Puig shipped massive stocks of products to the United States before the new tariffs came into effect. At the same time, the company significantly increased its prices to offset the impact of the taxes. All of this has obviously influenced the financial data.

Puig has become a major player in the world of perfumes and cosmetics in recent years, thanks in particular to a policy of targeted acquisitions that have enabled it to enrich its brand portfolio. This is the case, for example, with Charlotte Tilbury.

In 2031, the group will fully absorb the London-based company, which has enjoyed exponential success and in which Puig acquired a majority stake in 2020. Since then, Charlotte Tilbury's sales have continued to grow, tripling previous figures. Between 2026 and 2031, Puig will gradually increase its stake until it owns all the shares.

In January 2024, the group also became the majority shareholder in the luxury skincare brand Dr. Barbara Sturm, founded in 2014 by the eponymous aesthetic doctor specializing in molecular medicine.

Faced with the multitude of brands entering the market every day and an economic climate marked by uncertainty, the global beauty market—currently estimated at around $441 billion—has recently shown a slight slowdown.

While it had previously grown by around 7% per year, a report by McKinsey published last June states that growth is likely to stabilize at around 5% per year for the next few years.