Catalan perfume group Puig posts €155 million profits in 2011, 19% more than last year
The Barcelona-based group had a turnover of €1.343 billion; 80% of it was generated in global markets. The Puig Group produces perfumes and beauty products for brands such as Carolina Herrera, Paco Rabanne, Prada, and Valentino. Over the last four years, Puig passed from a 5.1% global market share in 2007 to 7.6% in 2011.
Barcelona (CNA).- Companies belonging to the Barcelona-based Puig Group accumulated a \u20AC1.343 billion annual turnover in 2011, which means the business reached an increase of 12% in sales, according to information given by the Catalan company. The major boost in gross sales can be explained by a good performance in international markets, which closed 2011 with a quota of 80% of total revenues, whereas in 2007 this market made up 64% of the total. Over the last four years, Puig passed from a 5.1% global market share in 2007 to 7.6% in 2011. The net profit ascribed to the company has reached \u20AC155 million, which is a 19% increase in relation to the last fiscal year.
Besides the good performances of brands in the Carolina Herrera division, the sales of the brand \u20181 Million\u2019 by Paco Rabanne, which was leader in the global market, and \u2018Lady Million\u2019, with a good market response also played a part in end of year profits. The company also emphasised the great sales of the new fragrances \u2018Valentina\u2019 by Valentino and \u2018Prada Candy\u2019 by Prada.
Puig stressed the solid performance made by brands such as Antonio Banderas\u2019 \u2018Golden Secret\u2019, Shakira\u2019s \u2018Eau Florale\u2019, and Mango, which allows the company to hold a relevant position in the category of \u2018masstige\u2019 (marketing term meaning downward brand extension) fragrances in the global market.