Puig revenues rose 7.8% on a like-for-like basis to €5 billion in 2025, finishing the full year with robust numbers, the company said on Wednesday.
“In 2025, we completed our previous five-year plan, communicated in early 2021, which set our ambition to double our 2020 revenue in three years and triple it in five,” chair and CEO Marc Puig said on the earnings call. “We exceeded those goals, more than doubling our revenue by 2022 and more than tripling it by 2025.”
Fragrance and fashion accounted for 72% of the Spanish conglomerate’s total revenue in 2025, growing 6.4% on a like-for-like basis. But it was makeup and skincare that saw the strongest category growth, rising 13.7% and 8.7% for the full year, respectively.
Puig referenced fragrance brands Carolina Herrera and Jean Paul Gaultier as standout performers, while Byredo witnessed double-digit growth in the niche fragrance category. The group said that brands Rabanne, Carolina Herrera, and Jean Paul Gaultier continue to hold three of the top 10 positions in the global fragrance market.
Makeup was the star category for Puig, accounting for 17% of the group’s 2025 revenue and generating €845 million. Charlotte Tilbury contributed largely to the success, with strong double-digit growth propelled by Amazon in the US and entry into the Mexican market. The company said the brand ranks in first place in the prestige makeup category in the UK and third in the US.
Skincare delivered €551 million in sales and represented 11% of the group’s full-year revenue, beating market expectations. French dermatological brand Uriage witnessed double-digit growth, which was complemented by strong sales of Charlotte Tilbury skincare.
As for its fashion arm, Julian Klausner’s debut at Dries Van Noten delivered a “stellar performance” in 2025, while the introduction of Duran Lantink at Jean Paul Gaultier and Carolina Herrera’s Madrid show marked significant creative milestones.
EMEA (Europe, the Middle East and Africa) accounted for 55% of revenue in 2025, rising 5.5% and totaling €2.8 billion. The group praised its execution in the fragrance market and brands such as Charlotte Tilbury and Derma. The Americas represented 35% of revenue and delivered 7.7% growth. But the group faced setbacks with foreign exchange, primarily due to the US dollar and the emerging market currencies in Latin America. Meanwhile, Asia-Pacific revenue remained healthy, with 21.% growth to €530 million. Charlotte Tilbury, Niche, and Derma were responsible for strong momentum across the region.
“Looking ahead, while we expect growth in the fragrance market to continue to normalize, we enter the new financial year with confidence,” the CEO said. “Given the strength of our brand portfolio and our steady pipeline of innovation, we are well placed to sustain healthy growth and continue to outperform the premium beauty market.”
