Puig sales approach 1.5 billion euro mark
Puig continues its rapid rise. In 2013 the Spanish fragrance and fashion group, which this year celebrates its centenary, boasted increases in both its sales (5 percent) and net profit (1 percent) on a comparable basis. Sales rose to nearly 1.5 billion euros for a profit before tax of 248 million euros and a net profit of 176 million euros. International sales now account for 86 percent of turnover versus 51 percent in 2004. Emerging countries (outside the European Union and the United States) account for 48 percent of the company's business.
The group, which employs 4,204 people (712 in France), said its sales grew 7% per year in the past decade, from 790 million to 1.499 billion euros. Similarly, net profit rose from just one million euros in 2004 to 176 million euros in 2013. According to a press release on the company's financial results, Puig's global market share in the selective perfumery sector rose from 3.4 percent in 2005 to 8.6 percent.
A number of major fragrances were also launched in that same period. Puig was able to climb to number six in the market with perfumes such as CH and 212 for Carolina Herrera, Nina for Nina Ricci and Black XS, 1 Million and Invictus for Paco Rabanne. Plus, new licenses contributed their share, such as Prada, Valentino, Comme des Garçons and more recently Benetton in 2013.
In the fashion sector, Puig continued to expand its business in 2013 and refined its model for creating luxury brands. "This strategy has allowed Puig to define a unique hybrid business model in the luxury sector, which is to create brands by building their image through fashion and projecting them onto the world of perfume with managed or licensed brands," the company said in its statement.
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