The Tamesis
Puig’s revenue will grow 7.8% year-on-year to 5 billion euros by 2025, with strong full-year results, the company said on Wednesday.
“In 2025, we completed our previously communicated five-year plan in early 2021, which set our goals to double 2020 revenue in three years and triple in five years,” Chairman and CEO Marc Puig said on the earnings call. “We exceeded those goals and will more than double our revenue by 2022 and more than triple it by 2025.”
In 2025, the fragrance and fashion business accounted for 72% of the Spanish group’s total revenue, growing 6.4% year-on-year. However, the cosmetics and skin care categories had the strongest growth, with annual growth of 13.7% and 8.7% respectively.
Puig counts fragrance brands Carolina Herrera and Jean Paul Gaultier as outperformers, while Byredo has seen double-digit growth in niche fragrance categories. The organization said the Rabanne, Carolina Herrera and Jean Paul Gaultier brands continued to occupy three of the top 10 brands in the global fragrance market.
Makeup is Puig’s star category, accounting for 17% of the group’s revenue in 2025, generating 845 million euros. Charlotte Tilbury’s success has largely contributed to Amazon’s strong double-digit growth in the U.S. and its entry into Mexico. The brand ranks first in the premium cosmetics category in the UK and third in the US, the company said.
Sales of skin care products reached 551 million euros, accounting for 11% of the group’s annual revenue, exceeding market expectations. French dermatology brand Uriage achieved double-digit growth, boosted by strong sales of Charlotte Tilbury skincare products.
As for its fashion division, Julian Klausner’s debut at Dries Van Noten marked an “outstanding performance” in 2025, while Duran Lantink’s launch at Jean Paul Gaultier and Carolina Herrera’s Madrid shows marked important creative milestones.
EMEA (Europe, the Middle East and Africa) will account for 55% of revenue in 2025, growing 5.5% and totaling €2.8 billion. The group praised its execution in the fragrance market and brands such as Charlotte Tilbury and Derma. The Americas region accounted for 35% of revenue and achieved growth of 7.7%. But the group encountered setbacks on foreign exchange, mainly due to the impact of the U.S. dollar and emerging market currencies in Latin America. Meanwhile, revenue in the Asia-Pacific region remained healthy, growing 21.% to €530 million. Charlotte Tilbury, Niche and Derma have contributed to the strong momentum across the region.
“Looking ahead, while we expect growth in the fragrance market to continue to normalize, we enter the new financial year with confidence,” the CEO said. “Given the strength of our brand portfolio and stable innovation pipeline, we are well-positioned to maintain healthy growth and continue to outperform the premium beauty market.”
