Spanish company Puig, renowned for its perfume, fashion, and beauty brands such as Carolina Herrera, Paco Rabanne, and Jean Paul Gaultier, is reportedly making plans to go public in 2024. Puig aims to achieve a valuation of approximately 8 billion euros, though this will depend on market conditions at the time of the initial public offering (IPO). To facilitate this transition, Puig recently restructured its corporate organization, consolidating all its businesses under a new public limited company called Puig Brands SA. This change allows Puig to pursue an IPO and potentially expand its base of shareholders.

According to financial publication ‘Expansión,’ Puig’s offering is expected to comprise between 25% to 49% of its capital. This range meets the minimum requirement set by the National Securities Market Commission (CNMV) for companies going public, while still enabling the Puig family to retain control of the group. The final proportion offered will be determined by factors such as investor demand and market conditions.

Puig has demonstrated remarkable financial performance in recent years. In 2022, the company achieved a net profit of 400 million euros, marking a significant 71% increase compared to the previous year. Net revenues also experienced substantial growth, reaching 3.62 billion euros, a 40% increase. Puig’s operating profit (EBITDA) for 2022 amounted to 638 million euros, showcasing a remarkable 37% rise from 2021. These impressive results represent the company’s best performance for the second year running.

The decision to go public reflects Puig’s confidence in its future growth prospects and its desire to attract external investment for further expansion. By accessing the public markets, Puig can potentially raise substantial capital to invest in new product development, expand its brand portfolio, and pursue international growth opportunities. Additionally, the IPO could bolster Puig’s reputation and visibility in the global fashion and beauty industry, positioning the company as an even stronger player in the market.

As market conditions evolve, Puig will continuously assess its IPO plans and make adjustments accordingly. The company will closely collaborate with its appointed global coordinators, Goldman Sachs and JP Morgan, to navigate the intricacies of the public offering process and ensure a successful listing. Ultimately, Puig’s IPO in 2024 has the potential to be a significant milestone, unlocking new growth prospects and solidifying its position as a leading figure in the fashion and beauty sector.

Links:
Puig Official Website
Puig Brands and Products