Puig delivers like-for-like growth of 11.6 percent

Puig delivered net revenue of 1,257 million euros in the third quarter, up 11.6 percent like-for-like and 11.1 percent reported. The company’s growth accelerated versus H1, led by the double-digit growth of both Puig’s core business segment, fragrance and fashion, and largest market, EMEA.

For the nine-month period, Puig achieved revenues of 3,428.2 million euros, up 9.6 percent LFL and 10.1 percent reported, with positive contributions from all business segments and geographies.

Commenting on the financial results, Marc Puig, the company’s chairman and CEO, said in a statement: “Puig delivered double-digit revenue growth in the third quarter amid a complex operating environment for the sector. This result highlights the health and resilience of our core business — particularly fragrances — which saw an acceleration in Q3 and continues to outperform the premium beauty market.”

In the third quarter, the Americas registered 9.8 percent reported growth led by double-digit gains in the US. Asia-Pacific, representing 8 percent of net revenue, showed positive growth.

Fragrance and fashion segment revenues increased by 11.1 percent, driven by EMEA and the Americas. In the first nine months, fragrance and fashion generated net revenue of 2,534 million euros, an increase of 10.9 percent on both a reported and constant perimeter basis compared to the same period of 2023.

Makeup grew 7.3 percent in the quarter, while revenues for the nine-month period of 535 million euros increased by 1.4 percent on a reported and constant perimeter basis. Skincare sales grew 18.6 percent on a reported basis and 5.2 percent at constant perimeter in the third quarter. For the nine-months, skincare delivered 381 million euros in net revenue, up 22.9 percent on a reported basis and 9.4 percent at constant perimeter.