Spanish fashion and beauty group Puig is undergoing a significant restructuring of its corporate structure, which could potentially pave the way for an initial public offering (IPO). In order to position itself for a future IPO, the company has decided to consolidate all of its businesses under the public limited company Puig Brands SA. This move was deemed necessary as Puig’s previous parent company, a limited liability entity, would not allow for a public listing.

As part of the reorganization process, the parent company of Puig will undergo a name change to Puig Brands SA. Additionally, there will be a “non-cash” capital increase of 29.30 million euros, signaling the company’s commitment to strengthening its financial position. Puig has also revamped its bylaws, introducing a board of directors composed of 14 members. This new board structure grants more decision-making power to independent professionals.

Although Puig has officially stated that it currently has no plans to go public, industry sources view this corporate reshuffling as a potential precursor to an IPO. With the company’s impressive track record and ambitious growth targets, an IPO could provide Puig with access to additional capital and enable it to capitalize on its success in the fashion and beauty sector.

Puig is currently a 100% family-owned business and has experienced remarkable sales growth, achieving a record-breaking revenue of 3.62 billion euros in 2022. The company has set an ambitious goal of reaching a turnover of 4.5 billion euros by 2025, a reflection of its confidence in its ability to drive further expansion and capture market share.

Links:
1. Puig Official Website
2. Reuters Article on Puig’s Restructuring