Luxury Figures

The Puig Group Confirms its Strong Growth in 2025 to More Than €5 Billion

By Cristina D’Agostino18 février 2026

The Spanish company, founded in 1914 by the Puig family, now listed on the stock exchange and headquartered in Barcelona, published its 2025 figures on February 18 and confirmed its strong growth. Revenue exceeded €5 billion (€5.04 billion), up 5.3% on published data, improving profitability and outperforming the high-end beauty products market.

In 2025, the Puig group's niche portfolio saw the strongest growth with double-digit growth, led by Byredo, a Swedish perfume company (Byredo)

Marc Puig, Puig's CEO, confirmed the company's good health to the press on February 18. Indeed, 2025 coincided with the end of the five-year plan that the group had set in 2020, with very ambitious targets: to double 2020 revenue in three years and triple it in five years. Today's publication of the figures was an opportunity for him to announce the success of the plan: "We have exceeded these objectives, more than doubling our revenue by 2022 and more than tripling it by 2025. Looking ahead, even though we expect growth in the fragrance market to normalize, we are approaching the new financial year with confidence. Thanks to our strong brand portfolio and steady pipeline of innovations, we are well positioned to maintain healthy growth and continue to outperform the premium beauty market."

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The Spanish group went public on May 3, 2024. The IPO took place on the Madrid Stock Exchange (BME) and was one of the largest European IPOs in recent years in the luxury and beauty sector. The company's valuation at the time of the IPO was €13.9 billion. The Puig family retains majority control through enhanced voting rights shares.

The group, which owns Rabanne, Carolina Herrera, Charlotte Tilbury, and Jean Paul Gaultier, among the seventeen brands in its portfolio, confirms good profitability with adjusted EBITDA of €1.045 billion, up +7.8% compared to the previous year. The adjusted EBITDA margin rose from 20.2% for the 2024 financial year to 20.7%, exceeding forecasts.

The Perfumes and Fashion segment, the largest, representing 72% of Puig's net sales for fiscal year 2025, generated net sales of €3.64 billion, representing growth of +3.8% on a reported basis (+6.4% on a like-for-like basis) for the full year. Unsurprisingly, the niche portfolio saw the strongest growth with double-digit growth, led by Byredo. Puig points out that the fourth quarter saw an increase (+3% on a reported basis) thanks to year-end sales.

In the makeup segment (17% of the group's revenue at €844 million and +10.7% growth), the Charlotte Tilbury brand saw a sharp double-digit increase, thanks in part to additional distribution gains via Amazon in the United States and entry into a new national market, Mexico.

But the Puig group is not only a recognized company in the beauty segment, as it also owns three fashion houses: Jean Paul Gaultier, Carolina Herrera, and Dries Van Noten. As the results of these brands are not separated from those of perfumes, no details are available. However, the press release highlights “an exceptional performance during the 2025 financial year for Dries Van Noten.”

Overall, Puig achieved a global market share of 11.1% for fiscal year 2025.

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