Spanish beauty company Puig, known for its perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier, said on Wednesday its quarterly sales excluding currency fluctuations rose 8 percent from a year ago, in line with the growth it expects for the full year.
Puig reported €1.09 billion ($1.27 billion) in sales during the second quarter, in keeping with the €1.1 billion forecast by analysts in an LSEG poll, and achieving the same revenue increase year-on-year as in the previous quarter.
The Barcelona-based group confirmed that it expects revenue growth to decelerate to between 6 percent and 8 percent in 2025 after an 11 percent increase in 2024, as it navigates the challenge of expected higher tariffs in the United States, one of its biggest markets.
Sales in the Americas rose 10 percent in the quarter, despite trade tensions stemming from an initial 10 percent increase in US tariffs and Washington’s promise of more levies, while sales in Asia improved by 19.5 percent. Still, the EMEA region remains its main market.
Puig has priced the additional 10 percent US tariff into its annual sales projection.
US president Donald Trump on Saturday threatened to impose a 30 percent tariff on imports from the European Union starting on August 1, escalating trade tensions that may affect major beauty industry players such as L’Oreal and Estee Lauder, alongside other sectors such as European wine or clothing.
By Corina Pons; Editors: David Latona, Andrei Khalip
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Content shared from www.businessoffashion.com.
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