Puig Brands SA is betting on the Fragrance Index for its multibillion-euro initial public offering. But the owner of Charlotte Tilbury, Jean Paul Gaultier and Nina Ricci will have to pass the smell test to convince investors to buy into it. After three years of stellar growth, we may be past peak perfume.

Puig generated €4.3 billion ($4.7 billion) in revenue in 2023, up 19% from 2022, and earnings before interest, tax, depreciation and amortization of €863 million. With borrowings manageable — net debt at the end of 2023 was €1.2 billion — the up to €2.5 billion proceeds of the IPO would be used to support future growth. The Puig family will retain a majority stake.

QOSHE - Charlotte Tilbury's Owners Bet We Haven't Reached Peak Beauty - Andrea Felsted
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Charlotte Tilbury's Owners Bet We Haven't Reached Peak Beauty

10 3
09.04.2024

Puig Brands SA is betting on the Fragrance Index for its multibillion-euro initial public offering. But the owner of Charlotte Tilbury, Jean Paul Gaultier and Nina Ricci........

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