The Spanish fashion and cosmetics group Puig, owner of Jean Paul Gautier and Nina Ricci, announces its IPO
The Spanish fashion and cosmetics group Puig, owner of the Nina Ricci, Paco Rabanne and Jean Paul Gaultier brands, announced Monday April 8 the launch of its IPO, with the objective of raising at least 1.25 billion euros. Puig “intends to apply for admission” on the Madrid Stock Exchange, said in a press release the family business based in Catalonia (northeast of Spain), which will retain the majority of the capital at the end of the operation.
According to the press release, the operation will consist of an issue of new shares with a target of 1.25 billion euros, and a sale of shares held by Exea, the holding company of the Puig family. The amount that the group hopes to recover via this second tranche is not specified, but it could be higher than the 1.25 billion targeted by the issue of new shares.
“Today’s (Monday) announcement is a milestone in Puig’s 110-year history,” underlines in the press release the group’s CEO, Marc Puig, saying he is aiming for a “long-term approach”. This IPO “will enable us to be more competitive in the international beauty market during the next phase of the company’s development”, he adds. Marc Puig had already mentioned this IPO in October 2023 in an interview with Financial Times, specifying that this operation would not lead to an abandonment of family control over the company.
Founded in 1914 in Barcelona by the Catalan entrepreneur Antonio Puig Castellò, the Puig company has managed to rise over the years among the giants of cosmetics, perfumes and fashion, by multiplying acquisitions in recent years. It notably owns the brands Paco Rabanne, Nina Ricci, Charlotte Tilbury and Carolina Herrera, and has a majority stake in the luxury label Jean Paul Gaultier. Last year, the Catalan group earned 4.3 billion euros in turnover, or 19% more than in 2022. Its net profit reached 465 million euros, up 16%. over a year.
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