Puig Brands, S.A.

Antonio Puig Castelló established the business in Barcelona in 1914, initially in perfumery [1]. Over the following century the company grew from a Spanish fragrance maker into a diversified international group, in part by building its own brands and in part through licensing agreements and acquisitions of established fashion and beauty houses.

A turning point came through its relationship with Carolina Herrera: the raw source records a fragrance agreement in the 1980s, with the fashion business joining the group in 1995. The company also expanded its Spanish cosmetics base, acquiring Perfumes Gal in 1995 and the cosmetics house Myrurgia in 2000. Alongside owned brands, Puig assembled a roster of licensed fragrance partnerships over the years, including agreements tied to Antonio Banderas (from 1997), Comme des Garçons (2002), and Prada (2003).

Puig groups its brands across fashion, fragrance, and cosmetics and skincare.

In fashion, the group owns Rabanne, Carolina Herrera, and Nina Ricci outright, and holds a majority stake in Jean Paul Gaultier as well as in the designer label Dries Van Noten.

Its fragrance brands include the British houses Penhaligon's and L'Artisan Parfumeur, together with a set of licensed and partner fragrance lines such as Christian Louboutin, Comme des Garçons, Antonio Banderas, Shakira, and Byredo.

In cosmetics and skincare, the portfolio covers Charlotte Tilbury Beauty, the French dermatological brands Uriage and Apivita, the skincare label Dr. Barbara Sturm, and the Spanish sun-care and dermocosmetics brand ISDIN. The group's holdings also include the Spanish designer brand Agatha Ruiz de la Prada and, under licence, Victorio & Lucchino.

Much of Puig's growth has come through acquisitions of fragrance and beauty brands, a pace that accelerated in the 2010s and 2020s.

The group acquired the Nina Ricci brand in 1998 and the Spanish cosmetics house Myrurgia in 2000 [1]. In 2010 it took on the Valentino perfume and cosmetics licence and became the majority shareholder of Jean Paul Gaultier. It expanded into British niche perfumery in 2015 with the purchase of Penhaligon's and L'Artisan Parfumeur.

Puig continued to broaden beyond fragrance in the following years. In 2018 it acquired a majority stake in the fashion brand Dries Van Noten, and in 2020 a majority stake in the British beauty brand Charlotte Tilbury [1]. In 2022 it acquired the Swedish fragrance house Byredo along with Kama Ayurveda and Loto del Sur. In 2024 it added the skincare brand Dr. Barbara Sturm and completed its stock-market listing [1].

Puig was privately held by the founding family for most of its history. In 2024 the company carried out an initial public offering, pricing its Class B shares at €24.50 and beginning to trade on the Spanish stock exchanges on 3 May 2024 under the ticker "PUIG" [3][4]. The listing is operated by Bolsas y Mercados Españoles across the Barcelona, Madrid, Bilbao, and Valencia exchanges, and the shares were later included in the IBEX 35 index [4].

The offering was reported at around €2.6 billion, and press coverage described it as the largest such listing in Europe that year and the largest Spanish IPO in more than a decade [4]. Despite the public listing, the Puig family retained majority control: according to the company, the family kept 68% of the economic rights and 91% of the voting rights after the IPO [3].