Puig revenues rise as fragrance and skincare outshine makeup

Puig has reported a 7.8% rise in net revenue, reaching €1.2 billion (£1 billion) for the first quarter of 2025, driven by strong demand in its fragrance and skincare divisions, which offset weaker performance in makeup.

Fragrance and fashion - which accounts for 74% of Puig's revenue - reported growth of 10.4%. As part of this, Jean Paul Gaultier and Carolina Herrera continued their "outstanding" growth, while niche fragrance also increased.

Meanwhile, the skincare division reported €144 million (£122 million) in revenue, representing 12% of Puig’s total revenue and an increase of 7.2% on a reported basis against 2024.

The continued performance of dermo-cosmetics brand Uriage led the skincare growth with core franchises and new product launches, complemented by Charlotte Tilbury Beauty.

However, the makeup segment recorded revenue of €165 million (£140 million), reflecting a decline of 4.2%, against a backdrop of continued softness in premium makeup.

It comes as regional growth was recorded across all markets, with EMEA achieving a 4.3% increase in revenue - accounting for 53% of revenue. The Americas and Asia-Pacific held 37% and 9% of total revenue, respectively.

Looking ahead, Puig maintains its outlook for 2025 in spite of the "challenging global macroeconomic environment". It expects like-for-like revenue growth between 6-8%.

Marc Puig, Chairman and Chief Executive Officer at Puig, said: "We are off to a strong start in 2025, continuing to outperform the premium beauty market. Once again, our largest segment – fragrances and fashion - is our top performer, which is a testament to the strength of our prestige and niche brands and the desirability of our portfolio.