Puig's Strong Second Quarter: Growth Across Fragrance and Makeup
Puig demonstrated a powerful financial showing in the second quarter of 2026, as its like-for-like revenues expanded by 4.1%, reaching an impressive €1.14 billion. This positive trend follows a solid 4.7% increase in sales during the first quarter, underscoring the company's sustained momentum in the market. Jose Manuel Albesa, Puig's Chief Executive Officer, emphasized the company's market share gains across diverse categories and regions, highlighting the broad-based nature of its success, with both fragrance and makeup segments serving as key drivers of this growth.
The company's core fragrance and fashion division, which represents the largest portion of its business, recorded a 3.7% like-for-like increase, generating €819 million. This growth was significantly boosted by both its high-end and specialized fragrance lines. The prestige segment benefited from double-digit growth, largely attributed to Carolina Herrera's success, particularly with the 2025 launch of La Bomba. Similarly, the niche fragrance market experienced strong double-digit growth, driven by the impressive performances of brands such as Byredo and Dries Van Noten. Meanwhile, the makeup sector saw a substantial 9.1% rise in sales, reaching €188 million, thanks to the expanded distribution of Charlotte Tilbury products at Boots UK. However, skincare sales experienced a marginal decline of 0.3%, totaling €132 million. This was primarily due to a competitive premium market, disruptions from the reformulation of Chantecaille Remagic Cream, and the discontinuation of some lower-margin items. Despite this, Albesa expressed confidence in a rebound for the skincare division in the latter half of the year.
Geographically, EMEA regions (Europe, Middle East, and Africa) contributed significantly with a 2.1% like-for-like growth, achieving €565.2 million. The Americas also posted strong results, growing by 3.2% to €431 million, while the Asia-Pacific region led with an impressive 16.1% increase, reaching €142.4 million, despite geopolitical challenges in the Middle East slightly impacting overall sales. Puig also unveiled ambitious plans for its brands, including the launch of Jean Paul Gaultier's new feminine fragrance, La Favorite, marking a major milestone for the brand. Additionally, Rabanne is set to rejuvenate its best-selling One Million franchise with the introduction of One Million Black. These strategic initiatives, coupled with new creative directions under Duran Lantink for Gaultier and Olivier Rousteing for Rabanne, are expected to foster continued growth and innovation within the company. Furthermore, Puig's commitment to evaluating M&A opportunities aligns with its long-term strategic vision, which will be further detailed at its Capital Markets Day in Madrid.
Puig's sustained growth, particularly in its core fragrance and makeup sectors, demonstrates a robust business model and a clear vision for market leadership. The company's proactive approach to innovation, strategic brand development, and global expansion efforts positions it for continued success and resilience in a dynamic beauty and fashion landscape. This forward-thinking strategy not only enhances its market presence but also reinforces its commitment to excellence and adaptability.
