Puig is a house of love brands, present in beauty and fashion, that closed 2022 with record net revenues of 3,620 million euros, representing an increase of 40% on 2021 (+30% at comparable perimeter and with constant exchange rates), boosted by the good performance of its own brands in a market that is growing thanks to the recovery of consumer spending.
The company reached EBITDA of 638 million euros, representing a 37% increase on 2021. Net income rose to 400 million euros, up 71% compared to the previous year. The company achieved these record results in spite of a complex geopolitical environment, plus the impact of inflation and rising interest rates.
Puig carried out important acquisitions in 2022. During this period, the company acquired a majority stake in the Swedish luxury brand Byredo and incorporated the wellness brands Kama Ayurveda, in India, and Loto del Sur, in Colombia.
In all the categories (fragrances and fashion, makeup, skincare) 2022 was a year of growth for Puig, with double-digit revenue growth vs 2021, ahead of the global average.
Puig grew by over 30% in net revenues compared to 2021 in all regions.
The three-year plan for Puig, which was presented in March 2021, aimed for sales of 3,000 million euros in 2023 and 4,500 million euros in 2025. That meant doubling the sales of 2020 in three years and tripling them in five years. Due to the growth in the last two years, the company has achieved its ambition to doubling 2020 net revenues one-year ahead of schedule and is putting the company in a strong position to reach the goal of 4,500 million euros in revenues in 2025.