Spanish beauty company Puig plans to launch onto the Madrid, Barcelona and Valencia stock exchanges on 3rd May 2024 after reportedly pricing its IPO at a top-of-the-range rate (€24.50 a share) and aiming for a valuation of €13.9bn – according to various financial news sources.
The impending listing is said to be Spain’s largest in almost a decade, and the biggest European valuation since the luxury car manufacturer Porsche launched onto the Frankfurt Stock Exchange in September 2022. Puig, which is run by CEO Marc Puig – from the third generation of the founding family – has built its business on selling luxury fragrances.
The company has seen its annual sales continually rise over the past three years, with 2023 being its best year on record.
Its brand portfolio includes Jean Paul Gaultier, Rabanne and Carolina Herrera, as well as niche fragrance houses such as Byredo.
In recent years, the business has also ventured into the colour cosmetics category when it bought the UK brand Charlotte Tilbury, and in January 2024, it stepped into the skin care category when it acquired a majority stake in German, prestige, derma brand, Dr. Barbara Sturm.
New branding “pays tribute to legacy and bright future ahead”
Puig has said that it plans to use the proceeds from the share sale to refinance recent transactions and support future growth for its portfolio.
To celebrate the iconic moment in its 100-year history, the beauty business has also unveiled a brand new logo, which it said: “pays tribute both to Puig’s legacy and bright future ahead and reflects Puig’s core culture and values by placing creativity at the very centre.”
The revamped logo was created with French art and design agency M/ M (Paris), but is based on Swiss designer Yves Zimmerman's original work for the business over 50 years ago.
It includes a bespoke typeface, Paralelo, which Puig has said “reinterprets the spirit of Méridien”, a 1955 typeface by Adrian Frutiger that Zimmerman had established especially for the company. It also includes a new symbol which it said “was inspired by a Miró painting.”
Puig is "a home of creativity" said CEO
Chairman and CEO Marc Puig has revealed more about the sentiment behind this rebrand.
He stated: “At this transformational moment for Puig, we wanted to reinforce who we are, what we do and what we stand for: a Home of Creativity. We are connecting our long history with our commitment to innovation, our discretion with our sensitivity as a nurturing place where brands can shine, people can grow and daring ideas are celebrated.”
Marc Puig also shared that the new identity “will be deployed for the first time during the bell ringing ceremony at the Barcelona stock exchange on May 3rd. It will then be implemented progressively, creating an organic transition and juxtaposition with the existing one.”
Puig’s impending listing is the latest in a slew of European IPOs that have already launched this year.
Swiss derma skin care and aesthetics company Galderma Group AG launched onto the SIX Swiss Exchange in March 2024, the German retailer Douglas also launched onto the Frankfurt Stock Exchange in March, and Luxembourg-based private equity company with numerous beauty-based interests, CVC Capital Partners, launched onto the Euronext Amsterdam in April.
