The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The group has laid out an ambitious plan to return to growth with a goal to rebound swiftly from the pandemic and surpass €4 billion in sales by 2025. Sales are expected to dip to €1.5 billion this year, down from €2 billion last year.
The company’s five-year strategy involves growing Paco Rabanne and Carolina Herrera into billion-euro brands, and scaling beauty brands Charlotte Tilbury and Isdin to each reach €500 million in sales.
To support its ambitions, the company has reorganised its business into three divisions. The biggest, Beauty and Fashion, will house the majority of Puig’s brands, including Paco Rabanne, Carolina Herrera and Dries Van Noten, as well as licences for Christian Louboutin and Comme des Garçons Parfums. Charlotte Tilbury, of which Puig acquired a majority stake in June, will sit as its own division, while the newly created Derma division will house Uriage, Apivita and Isdin.
The company will also increase its stakes in Loto del Sur, based in Colombia, and Kama Ayurveda, based in India, to become a majority shareholder
As in-person retail continues to recover, store owners and marketers are working hard to press the main advantage analogue shopping has over digital: its appeal to all the senses.
What had once been a nimble, innovative company, became slow-moving and cautious causing it to miss out on what is now a strong beauty market because it retreated precisely when rivals went all in.
According to an email viewed by The Business of Beauty, the company will be on hiatus while it establishes a sustainable path to return as a new company.
The surfing legend, a vocal opponent of chemical-based sun protection, is launching his own line of natural skincare products this week.