Perfume maker Puig unveils new headquarters designed by Moneo and aims to rank the world's 3rd by 2020
The Catalan fashion and fragrance multinational Puig, which runs international brands such as Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier and Prada, has unveiled its new international headquarters, located in L'Hospitalet business district in Greater Barcelona. The tower has been designed by Rafael Moneo, who won the Pritzker Architecture Prize in 1996. The Catalan company has also presented its results for 2013, organising a press conference for the first time. Puig's turnover reached €1.499 billion last year, posting a net profit of €176 million, 2% more than in 2012. In addition, the multinational's CEO, Marc Puig, announced that the company aims to become the world's 3rd largest luxury brand group by 2020. Currently it occupies 6th position.
Barcelona (ACN).- The Catalan fashion and fragrance multinational Puig, which runs international brands such as Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier, Prada and Valentino, has unveiled its new international headquarters, located in L'Hospitalet business district in Greater Barcelona. The tower in Europa Square has been designed by Spanish Rafael Moneo, who won the Pritzker Architecture Prize in 1996, considered as the Nobel Prize of this discipline. The Catalan company founded by the Puig family 100 years ago has also presented its results for 2013, organising a press conference for the first time. Puig's turnover reached €1.499 billion last year, posting a net profit of €176 million, 2% more than in 2012. The group operates through 21 subsidiaries in 140 countries. In addition, the multinational's CEO, Marc Puig, announced that the company aims to become the world's 3rd largest luxury brand group by 2020. Currently it occupies 6th position.
Coinciding with the company's 100th anniversary, the Catalan perfume maker and fashion distributor Puig unveiled its new world headquarters. The company will initially be renting the tower designed by Rafael Moneo for a seven-year period, which can be extended for 5 additional years. Spain's Crown Prince Felipe attended the event, together with the President of the Catalan Government, Artur Mas. Felipe declared that Puig is a source of "pride" for Catalonia and Spain, and one of the best examples of the business values that Catalonia and the whole of Spain want to project in the future". Puig is "an example of the best Catalan entrepreneur and business spirit, which knows how to coordinate efficiency, results and customer service with commitment towards society", stated Felipe. The Crown Prince also congratulated the company on their 100th anniversary and for planning "a brilliant and hopeful future that we want to build altogether".
On the same day, Marc Puig, the company's CEO, had presented the multinational’s results for 2013. It was the first time Puig had organised a press conference with such an objective. The Greater Barcelona-based company posted a €1.499 million turnover, which represented a 1% increase on 2012 results. Marc Puig explained that last year was "more complicated" than initially expected, mostly because of the high value of the Euro against other currencies such as the Dollar, which makes exports more difficult in a global market. Despite this problem, Puig managed to obtain €176 million of net profit, 2% more than in 2012.
Becoming the world's 3rd largest luxury group by 2020
Marc Puig also unveiled the main guidelines of the company's strategic plan for the 2014-2020 period. They have set the objective of going from being the world's 6th largest luxury products group to becoming the 3rd. Marc Puig recognised it was "an ambitious" objective, but he is convinced it is reachable. The CEO said that in order to reach this aim new acquisitions could not be ruled out, although they do not have anything on the table in the short-term, he reckoned.
Besides this specific main goal, the strategic plan's three main axes are: sustainability, social responsibility and ambition, he said. Regarding sustainability the company wants to generate zero waste by 2020, compensating its emissions and the use of raw materials. On the social responsibility side, Puig wants to continue to give back part of its profits to society and it will thus increase the activities and funds of its foundation, although he did not provide specific figures. Finally, regarding the ambition axis, Puig aims to have 20% world market share of luxury perfume and fashion brands by 2020, while currently it runs at 8.6%.
Regarding the Spanish market, Marc Puig explained that after several bad years for luxury fashion and perfumes, in the final months of 2013 and early 2014 they have noticed a "clear recovery" of consumption. However, the Spanish market only represents 14% of Puig's sales, since 86% are made abroad. 67% of Puig's products are made in Spain and 31% in France. At the end of 2013, Puig was operating in 140 countries through 21 subsidiaries that were employing 4,204 workers, 40% of them based in Spain.