Puig has reported €2,171 million of net revenue in the first half of 2024, representing 9.6% growth (as reported), and a gross margin of 75.8%.
Notably, the company boosted its share of the selective fragrance sector by 60 basis points to 11.3%; revenues for the sector totaled about €1.6 billion.
But it was skin care that truly stood out, posting 25.2% growth, totaling €256 million. Highlights include Uriage, which has benefited from the dermocosmetic boom, and Dr. Barbara Sturm, a brand recently acquired by Puig.
Makeup, meanwhile, was soft, reporting a decline of 1.8%. That said, revenues totaled €334 million for the sector, larger than skin care. Charlotte Tilbury was a top performer in the sector, while Louboutin underperformed due to its exposure to China.
To turn around the makeup sector, Puig is hard at work rolling out makeup tied to some of its top fragrance brands, including Rabanne.
