Puig, a renowned manufacturer of fine perfumery and owner of brands such as Carolina Herrera and Paco Rabanne, made its debut in the Barcelona stock market on Friday with renewed spirits and a new carpet. The company conducted the largest IPO in Europe this year and the most significant in Spain in nearly a decade. Despite the global economic uncertainty, Puig’s shares rose 4.24% during the initial price setting, reaching 25.54 euros before returning to the starting price. This success was due to high demand from institutional investors who saw potential growth opportunities for the company.
After three years, investor focus returned to the Spanish stock market following Acciona Energía’s spin-off for 8,800 million euros. Puig’s successful IPO closed at the higher end of the expected price range, positioning it among the top companies in Spain and potentially leading to inclusion in the Ibex 35 index.
The Puig family retains control of the company and raised 3,000 million euros through the IPO, attracting investors like La Caixa Foundation’s Criteria. Puig’s revenue engine remains its fragrance business, particularly with brands like Carolina Herrera and Paco Rabanne. The company saw significant growth in profits and sales in recent years.
Looking ahead, Puig’s future looks promising with expectations of growth in skincare, fragrance, and makeup segments. The company aims to maintain a shareholder remuneration strategy while focusing on expanding its product portfolio. Generation Z consumers and the rise of e-commerce are expected to play a crucial role in Puig’s future sales.
Puig’s successful IPO sets it apart as a key player in the global luxury fragrance market, attracting new investors and signaling a bright future ahead for this Spanish brand.
