Puig opens new offices in Miami and launches a perfume platform
The Puig group is ending the year anticipating its planned expansion in 2023. After a fiscal year marked by acquisitions and strategic appointments, the Spanish fashion, fragrance and cosmetics company has two major projects lined up ahead: the opening of its new offices in the U.S. and the launch of WikiParfum.
According to Puig, the company intends to bolster growth in the Americas with the installation of a new regional hub located in Miami, Florida. The space is scheduled to be up and running as of January of next year and aims to "support strong growth in the Americas".
Founded in 1914 by Antonio Puig, the company has its main corporate headquarters in Barcelona, specifically in the state-of-the-art Torre Puig. The company has also been operating for almost three decades through its corporate headquarters in Paris. Initially located in Neuilly-sur-Seine, the conglomerate's offices moved to numbers 65 and 67 Champs-Elysées back in 2013, where it houses its fashion labels Paco Rabanne, Nina Ricci and Jean Paul Gaultier. The company currently has offices in 29 countries around the world.
Puig's entry into the United States is the latest in a series of the group's recent strategic moves in the Americas. The Spanish group acquired a majority stake in Colombian natural cosmetics firm Loto del Sur last July. The company already owned a minority stake in the firm founded by Johana Sanint since 2019.
This year Puig has also accelerated its international growth with a controlling stake in the Indian cosmetics company Kama Ayurveda, and the purchase of Swedish cult firm Byredo. The acquisition of Ben Gorham's company last May was reportedly worth 1 billion euros. This figure would equal the bid through which Puig acquired the British make-up firm Charlotte Tilbury in mid-2020.
Investing in innovation: a perfume library for professionals
Puig's projects have not only been limited to financial transactions. On Monday, December 19, the Spanish company announced the launch of WikiParfum. A digital platform available in seven languages and accessible through both a website and an app, with which Puig lists around 20,000 perfumes, 1,400 olfactive ingredients and 900 brands.
Developed by scientists and professional perfumers, the tool makes specialised content and functionalities available to perfume lovers and enthusiasts. Being able to consult, compare and choose fragrances, discover the scent of perfumes before trying them in a physical point of sale, as well as having access to a database full of photographs that allow you to visualise the fragrances and their predominant ingredients, are just some of the platform's features.
The interface also offers a "personal shopper" service powered by a complex analytical system. Supported by the independent guide "Fragrances of the World", developed by historian Michael Edwards, the Puig platform's algorithm provides personalized recommendations. This tool aims to recommend fragrances according to the customer's tastes as well as assist on purchasing gifts.
For its part, the perfume testing system launched by the company in 2018, AirParfum, addresses the issue of testing multiple fragrances without reaching olfactive fatigue by transforming purified air into scented air.
Currently, the family-owned company operates in the beauty and fashion division with brands such as Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten, Nina Ricci, Byredo, Penhaligon's, L'Artisan Parfumeur, Kama Ayurveda and Loto del Sur; and has licenses with Christian Louboutin and Comme des Garçons Parfums; as well as with lifestyle fragrances such as Antonio Banderas, Adolfo Dominguez, and Benetton. Puig also owns the luxury make-up brand Charlotte Tilbury and is active in the derma division with Uriage, Apivita, and the join venture in Isdin.
In 2021, Puig recorded sales of €2.59 billion. Today, the group retails its products in more than 150 countries and has offices in 29 of them.
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