A perfume to be crunched
As a family business with long-term vision, sustainability is a part of the Puig DNA and of the company’s way of doing business.
Puig, a family-owned beauty and fashion company, achieved net revenues of 1,537 million euros in 2020, which represented a 32% decrease on a like-for-like basis compared to 2019. This percentage was partially offset by the incorporation of Charlotte Tilbury in June 2020, reducing the decline to 24%.
Although the company’s results in the first two months of 2020 were very satisfactory, the year was cut short by the Covid-19 pandemic, an unprecedented health and economic crisis which has left almost every sector shaken by its effects.
Since January 1, 2021, following the incorporation of the brands Uriage, Apivita and the company’s 50% stake in Isdin, Puig has reorganized its business structure into three divisions: Beauty and Fashion Division, Charlotte Tilbury and Derma Division.
With this new structure, the company aims to exceed revenues of €3,000 million in 2023 and reach €4,500 million in 2025. This would mean doubling current turnover in 2023 and tripling it in 2025.
One of Puig main commitments is to leave a better world for the next generation, and, in this regard, the company has raised its levels of ambition on the road to sustainability. Puig as a whole works within an ESG (environment, social and corporate governance) framework, adopting a global approach that encompasses all business units, and defining a sustainability agenda on the brand level, with a focus on environmental and social aspects.