Puig, Spanish fashion and fragrance company starts trading on Friday

Lucy Sylva
Digital Sales - UK

Summary:  European IPOs are the current trend, Puig the Beauty group owning brands like Charlotte Tilbury or Carolina Herrera is going public on Friday and the demand from investors is exceeding the size of the deal.

We have seen recently that the Luxury sector presented mixed results, LVMH is down 10.5% from last year while Hermes is up 16.8% YoY... Still the industry is in a downward trend, partly due to the decrease in demand from Chinese clients and the end of the post pandemic luxury boom.

But Puig sees itself as an affordable luxury group which traditionally makes it a bit more immune to these slowdowns. The global premium beauty player with a curated portfolio of beauty and fashion brands closed 2023 with record net revenues of 4,304 million euros, an increase of 19% on 2022.  

Puig shares will be available for trading on the Saxo platform on Friday.

Adding some fuel to the sector, Hong Kong-listed L'Occitane shares jumped 12.9% on Tuesday after chairman and controlling shareholder, Reinold Geiger, said he will take the skin-care firm private, giving it an equity value of 6 billion euros ($6.4 billion).

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