Puig Reports 8% Sales Growth in Q1, Exceeds Expectations

Puig, the Barcelona-based beauty and fashion conglomerate behind brands like Rabanne, Carolina Herrera, and Jean Paul Gaultier, reported an 8% rise in first-quarter sales, surpassing analysts' expectations despite a challenging global market and looming U.S. tariffs. The company's quarterly sales reached approximately €1.21 billion, driven primarily by a strong performance in its fragrance and fashion segment, which saw around a 10% increase, while its makeup division experienced a decline. Growth was robust across all regions, with the Americas and Asia-Pacific outperforming, and about a third of Puig’s revenue now comes from the Americas. Puig attributed some of its strong first-quarter performance to strategic inventory stockpiling ahead of potential U.S. tariffs, though it expects slower growth in the remainder of the year due to macroeconomic headwinds and trade protectionism. The company reaffirmed its full-year outlook for like-for-like revenue growth between 6% and 8%, with measures like regional price increases in place to offset tariff impacts. Rival L’Oréal also reported strong quarterly results, highlighting resilient demand in the industry’s premium segments.