Key Takeaways
- Puig reported €2.3 billion in net revenue for H1 2025, marking a 7.6% like-for-like growth.
- The Asia-Pacific region led growth with a 19.5% increase in Q2 sales.
- The fragrance and fashion segment accounted for 73% of total sales, with makeup showing a significant 10.5% growth in Q2.
Puig’s Financial Performance
Puig achieved impressive financial results for the first half of 2025, generating €2.3 billion in net revenue. This figure reflects a 7.6% increase on a like-for-like basis and a reported growth of 5.9%. Currency fluctuations negatively impacted growth by 1.7%, highlighting the challenging foreign exchange environment. In the second quarter alone, revenue hit €1.1 billion, showing a like-for-like growth rate of 7.7%.
The company’s fragrance and fashion segment, which represents 73% of total sales, experienced an 8.6% growth rate in the first half of the year. Notably, makeup, which had previously lagged, rebounded dramatically, registering a 10.5% growth in the second quarter, largely thanks to successful new launches from Charlotte Tilbury. Additionally, skincare performed robustly, with a 10.2% increase in Q2 driven by the Uriage brand.
Geographically, the Asia-Pacific region was the standout market, reporting a remarkable 19.5% increase in like-for-like sales in Q2. The Americas achieved a 10% growth, whereas the EMEA region saw more modest gains at 3.5%. The quarter also featured the anticipated pre-launch of Carolina Herrera’s La Bomba fragrance and continued expansion within Puig’s niche brands, notably Byredo.
Puig’s diversified brand portfolio and regional presence helped sustain strong growth, despite the challenges posed by foreign exchange conditions. The company’s robust performance in the Asia-Pacific region and the resurgence of the makeup category suggest positive momentum in key consumer markets. This comes at a time when overall market growth in fragrances appears to be stabilizing.
The ongoing growth in various segments indicates Puig’s strategic adaptability and resilience in a fluctuating market landscape. This performance not only underscores the company’s operational strength but also its ability to capitalize on emerging trends and consumer demands, especially in the rapidly evolving beauty and wellness sectors.
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