Puig continues to set records, delivering back-to-back milestones in sales and profits for the second consecutive year. The family-owned perfumery and cosmetics house closed 2022 with a total turnover of 3.6 billion euros, marking a 30 percent rise that came alongside the addition of three new brands to its portfolio. The growth was resilient, even as the market faced ongoing disruptions from the lingering effects of the pandemic. The Group CEO, Marc Puig, noted that the period of home confinement and restricted social interaction left a lasting impression, shaping consumer behavior that persists into the current year as well.
The year featured several standout figures, including a 71 percent jump in profits. While some results were affected by regulatory hurdles in the UK during the prior year, the company still recorded historically strong earnings. In 2022 Puig posted a net profit of 400 million euros, a performance that underscores the company’s scale and trajectory in the luxury beauty space.
According to the company’s senior leadership, these gains are the fruit of long-term strategic bets made over the past two decades. Puig’s decision to double down on fashion-forward, selective perfumery positioned the group to capture a meaningful share of the global fragrance and cosmetics market, with early estimates suggesting a market share around 10 percent of the worldwide sector. In 2022, the brand portfolio also benefited from expanding in-house capabilities and a shift away from relying solely on third-party licenses, while niche perfumery has diversified and extended its reach beyond fragrance into related categories from Barcelona to broader distribution.
Fragrance remains the largest contributor to Puig’s sales, accounting for roughly 73 percent of revenue, yet color cosmetics and dermocosmetics stand out as the fastest-growing segments. Industry commentary highlights dermocosmetics as the most promising global category, and Puig acknowledges that its current presence in this space is comparatively modest, creating opportunity for future expansion. This strategic emphasis on high-growth beauty segments is driven by the leadership’s view of long-term global demand and brand equity in premium verticals.
future plan
Looking ahead, Puig emphasizes integration and value creation from significant acquisitions completed in recent years, including the addition of Byredo, Kama Ayurveda, and Southern Lotus to its portfolios during 2022. The company remains open to selective new opportunities, while maintaining a disciplined approach to strategic fits. Official projections include continued double-digit growth in the coming year, with management signaling a robust pipeline of initiatives and investments.
The leadership does not anticipate a sudden downturn as markets normalize post-pandemic. Inflationary pressure and consumer tightening are acknowledged realities, but Puig argues that overall demand remains resilient. The executive team observed that shoppers tend to prioritize spend when required, a tendency that supports continued confidence in premium beauty brands. In this framework, Puig remains optimistic about the sector’s outlook for the next several years.
Internally, the 3.6 billion euro turnover surpassed the company’s 2023 target and brought the group close to its 2025 ambition of a 4.5 billion euro turnover. A new strategic plan is slated for public unveiling later this year, aimed at sustaining momentum through broader product categories and expanded geographic reach.