Puig puts its intentions to go public on the table. As it has advanced this morning the daily Expansion, the Catalan company dedicated to perfumery, fashion and cosmetics would count on JP Morgan and Goldman Sachs to carry out its IPO process.
The company, which owns brands such as Paco Rabanne and Carolina Herrera, is considering the possibility of being listed on the stock exchange in 2024. The aforementioned media has estimated the value of the company at around 8,000 million euros.
The decision as to when this operation will take place is still subject to the market situation, but the company has already taken steps that suggest that the moment may be near. As explained by Expansión, Puig has hired the services of Goldman Sachs and JP Morgan to coordinate its entry into the stock market. Previously, as it indicates Modaes, the company, four months ago, grouped all its businesses under the same public limited company, Puig Brands, in order to prepare for an IPO. This step is a prerequisite in terms of compliance with legal and regulatory requirements before initiating an IPO process.
This future event could mark a turning point in the company's history, reinforcing and consolidating its position as a leader in the perfume industry and in the fashion and beauty sector.
This information seems to contradict the words coined by Marc Puig in an interview with Forbes magazine in May. At the time, the company's president and CEO wanted to settle the issue by denying this possibility, although specialised sources in the economic and stock market sector affirmed the opposite.
Puig reached 400 million euros of net profit in the 2022 financial year. In the same year, the group exceeded €3.6 billion in revenues and celebrated results above those forecast in the three-year plan drawn up by the company. Marc Puig highlighted the value of the good decisions that have been taken over the years, such as being more selective with its licences, focusing on own brands, investing in niche perfumery and diversifying into the beauty sector through colour and treatment cosmetics. In this appearance before the media, Marc Puig was satisfied with the optimistic scenario for 2023, a year in which double-digit growth is expected and an increased presence on the Asian continent.