Beauty and fashion group Puig sped past its 3 billion-euro sales goal in 2022 and lassoed a 10 percent market share of prestige fragrances worldwide.
Puig attaining 10 percent market share last year in prestige fragrances was thanks to some of its own brands, including Paco Rabanne, ranking fifth, and Carolina Herrera, coming in sixth. Jean Paul Gaultier, meanwhile, placed 17“In the niche category, our intention is to reach 20 percent market share, because that’s a growing territory,” Marc Puig said.
Puig’s fashion business, which includes the Paco Rabanne, Carolina Herrera, Jean Paul Gaultier and Nina Ricci brands, grew apace with the rest of the company. Makeup was the product category that grew fastest for Puig in 2022, notching up a 52 percent rise to 626 million euros, spurred by the Charlotte Tilbury and Carolina Herrera brands. Charlotte Tilbury was the first-ranking color cosmetics brand in the U.K., and its position was bolstered by products such as the Pillow Talk makeup line and technological innovations combining consumer’s physical and virtual experience of the brand’s products.
By region, Puig’s growth was fastest in the Americas, where sales increased 56 percent to 1.31 billion euros, or 36 percent of overall group sales. That turnout was primarily reinforced by business in the U.S., its largest market by sales, and the dollar’s appreciation against the euro. The company’s sales in travel retail gained 72 percent versus 2021, thanks to travelers coming from the Americas and Europe. Against 2019, prior to the coronavirus pandemic, sales in the channel rose 28 percent.
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