Puig re-structures with new derma division

Company diversifying across fragrance, skin and colour cosmetics.

Most people associate Puig with fragrance as the maker of the best-selling Paco Rabanne, Carolina Herrera and Jean Paul Gaultier juices.

But the Spanish multinational is more than the fifth largest company in the global perfume market. It is also the third largest dermo-cosmetic skincare player in European pharmacies after Pierre Fabre and L’Oréal.

Puig has majority stakes in Uriage, the French thermal spring water brand, and Apivita, the Greek skincare brand based on bee products. It also owns 50 per cent of ISDIN, the anti-ageing and photo-aging skincare brand.

Uriage and ISDIN both have top 10 rankings across European pharmacies. All three brands are available online in Australia.

A restructure of the Puig business into three major divisions, including the creation of a new Derma category, acknowledges the company’s diversity across fragrance, skincare and colour cosmetics.

Puig acquired a majority stake in Charlotte Tilbury in June this year and the new re-shuffle sees the luxury British beauty and skincare brand head up its own division.

The third division – beauty and fashion – will include Paco Rabanne, Carolina Herrera, Jean Paul Gaultier, Penhaligon’s, L’ Artisan Parfumeur, Dries Van Noten, Comme des Garcons, Christian Louboutin and the lifestyle brands of Shakira, Antonio Banderas, Benetton and Spanish designer, Adolfo Dominguez.

With the new positioning to start on January 1, Puig is aiming to reach sales of 3 billion euros (AUD$4.82 billion) by 2023 and more than 4 billion euros (AUD$6.43 billion) by 2025.

The company also has high hopes for its digital and Chinese businesses, with predictions that they will respectively account for 30 per cent and 25 per cent of overall revenues within the next five years.

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