Puig wants to raise DKK 30 billion in an IPO

Puig wants to raise DKK 30 billion in an IPO

Spain's Puig Group is preparing for an initial public offering in Madrid, it was announced on Monday. Thus the rumors were proven true.

The group will raise €2.5 billion, or just over NOK 29 billion, before the listing. Financial Times. The stock market listing will be the biggest in several years in the sector – you have to go back to 2021, when Italian luxury company Ermenegildo Zegna went public.

Puig, which owns perfume and makeup brands such as Charlotte Tilbury, Jean Paul Gaultier and Rabanne, wants to raise 1.25 billion euros in an initial issue, followed by a broader issue of the same size.

This appears from documents submitted to the authorities on Monday. The percentage that the family will agree to sell to investors has not been determined.


Puig was founded in 1914. Marc Puig has been chairman and CEO since 2004, but announced he will be the last of the Puig family to lead the company.

“We believe that the balance between being a family-owned company, which is also subject to market accountability, will allow us to better compete in the international beauty market in the next stage of the company’s development,” he says of the IPO.

Puig's IPO underscores the strong market for IPOs in Europe, thanks in large part to the prospect of lower interest rates.

With a value of up to 10 billion euros

Puig is valued at between 8 and 10 billion euros, the Financial Times writes.

The group ended 2023 with net revenues of €4.3 billion, up 19 percent on 2022. In 2021, the company set a revenue target of €3 billion in 2023, which it beat by a good margin.

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The group is still small compared to competitors such as L'Oreal and Estée Lauder.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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