Puig outlined an ambitious growth strategy at its first Capital Markets Day, targeting 8 billion euros in annual net sales by 2032, up from 5.04 billion euros in 2025. Chief Executive Officer José Manuel Albesa said the path to this goal will be "primarily organic" and driven by scale and above-market growth.
The Spanish beauty and fashion conglomerate, parent of Carolina Herrera, Rabanne, and Jean Paul Gaultier, plans to achieve an adjusted EBITDA margin of more than 22.5 percent. The company also aims to rank as a top-four premium beauty player and top-two fragrance player by 2032.
Puig identified six growth opportunities: digital, Asia-Pacific, U.S. niche fragrances, feminine prestige fragrances, Charlotte Tilbury distribution, and dermocosmetics. The prestige fragrance category, niche fragrances, and dermocosmetics will be the largest contributors to growth.
Geographically, the company will reinforce its position in EMEA, Latin America, and travel retail while pursuing expansion in North America and Asia-Pacific. In North America, Puig moved from number six to number four over the past four years.
Thomas James, president of niche and wellness brands, said niche fragrance brands Byredo and Penhaligon's are demonstrating a repeatable model. The company sees a clear path toward reaching 1 billion euros in niche fragrance sales over the long term.
Puig said it will continue pursuing selective and value-accretive acquisitions to strengthen its portfolio. The company will also implement a more integrated operating model built around global brands, markets, and functions to accelerate profitable growth while maintaining creative autonomy.