Puig Group owns the Paco Rabanne, Nina Ricci, Charlotte Tilbury and Carolina Herrera labels and also holds a majority stake in Jean Paul Gaultier. Photo: FRANCOIS GUILLOT / AFP/FileFor the family-owned Puig Group, which has expanded rapidly into luxury goods, going public is a big step which will allow it to compete with the giants of the sector such as Estee Lauder, Hermes, Kering and LVMH.
Founded in Barcelona in 1914 by businessman Antonio Puig Castello, the group has grown over the years to become a heavyweight in the cosmetics, fragrance and fashion industries, bolstering its stance in recent years with a string of prestigious acquisitions.Among its brands are Paco Rabanne, Nina Ricci, Charlotte Tilbury, Carolina Herrera and Dries Van Noten.
That could then be complemented with the sale of shares reserved for specific investors for another 390 million euros, which would allow the group to raise around 3.0 billion euros. "Sometimes family businesses can lose their position in the market. They can start to die slowly and nobody inside the company is aware of it," he told the paper."If you’re accountable , those things can be noticed."According to Javier Cabrera, an analyst at XTB, the IPO would allow the group to build"greater financial clout" by taking advantage of"the positive stock market dynamics" in the luxury goods and fashion sector.