Puig delivered a stronger-than-market first half of 2026, with broad-based growth across its fragrance, makeup and skincare businesses as the company reaffirmed its full-year outlook following a leadership transition and a larger investment in Charlotte Tilbury.
Net revenue reached €2.35 billion in the first six months of the year, rising 4.4% on a like-for-like basis and outperforming the premium beauty market. Profitability also improved, with adjusted EBITDA climbing 3.2% to €460 million and adjusted net profit increasing 5.2% to €260 million, reflecting continued margin expansion.
Fragrance and fashion remained Puig's largest business, accounting for nearly three-quarters of sales with €1.72 billion in revenue. Growth was driven by double-digit gains from Carolina Herrera and the company's niche fragrance portfolio, including Byredo.
Makeup emerged as the fastest-growing division, surging 9.1% on a like-for-like basis to €359 million as Charlotte Tilbury continued to gain market share and deliver strong sell-out performance. Skin care posted 2.3% like-for-like growth to €279 million, supported by double-digit expansion from Uriage in key markets despite ongoing softness across the premium skincare category.
Geographically, Asia-Pacific led all regions with a standout 20.9% like-for-like increase, underscoring Puig's growing momentum in the region. The Americas and EMEA each recorded 2.6% like-for-like growth, although EMEA results were tempered by an estimated €14 million impact related to the conflict in the Middle East.
The first half also marked a significant leadership transition. In March, Jose Manuel Albesa assumed the role of CEO, while Marc Puig became executive chairman. Puig also deepened its commitment to one of its fastest-growing brands by increasing its ownership stake in Charlotte Tilbury from 78.5% to 85% through a €260 million investment.
Looking ahead, the company reaffirmed its 2026 guidance, expecting to continue outperforming the premium beauty market while maintaining stable adjusted EBITDA margins.
