Puig has introduced Colonias Absolutas Puig, a collection of four fragrances developed by perfumer Jean-Claude Ellena. Three (Agua Brava, Agua Lavanda Iris and Agua Noble) are new versions of older Puig fragrances; one (Agua Mediterránea) is entirely new…
Puig snapped up a majority stake in the brand in 2022 and, at the time, Byredo was reportedly valued at around €1bn.
As part of the deal, Gorham’s leadership continued as Chief Creative Officer, a role Puig said was agreed until June this year, accordintg to reports from WWD and Business of Fashion.
— Read more in Byredo founder Ben Gorham departs cult fragrance brand at Cosmetics Business.
Carolina Herrera's Good Girl and Jean Paul Gaultier's Le Male were standout performers for prestige, and demand for Byredo’s Blanche Absolu supported Puig’s niche fragrance arm.
Shares in the Barcelona-based company also jumped by a modest 2.7% in early trading on 28 April as it bucked a recent downturn in demand for luxury beauty businesses.
Puig saw a notably strong performance in the US, reporting 11.5% growth in the market, equally shrugging off current market anxieties in the wake of the US tariff hikes.
— Read more in Puig upbeat as first quarter revenues top €1.21 billion at Cosmetics Business.
2024 was a big year for Spanish conglomerate Puig, which went public on the European stock exchange in May and completed the acquisition of the Dr Barbara Sturm brand in January. After a rocky start on the public market, the company reported a strong finish to the year. Revenues for 2024 rose 10.9 per cent to €4.7 billion on a like-for-like basis, while fourth-quarter revenues were up 14.3 per cent to €1.36 billion.
— Read more in Puig rides fragrance boom to 11% sales jump in 2024 at Vogue Business.
Puig has acquired a majority stake in Byredo, the luxury fragrance and lifestyle brand founded in Sweden that has built a cult following selling gender neutral fragrances in sleek packaging across upmarket department stores and boutiques globally.
Spanish conglomerate Puig, which owns Carolina Herrera, Nina Ricci, Paco Rabanne, Charlotte Tilbury and Jean Paul Gaultier as well as the fragrance licences of Christian Louboutin and Comme des Garçons, said it will support the direct-to-consumer brand as it develops its luxury positioning, according to a statement today.
— Read more in Puig snaps up majority stake in cool Swedish fragrance brand Byredo at Vogue Business, or see Good-Byredo? Puig Acquires Byredo For Estimated €1 Billion at Highsnobiety.