Spanish beauty group Puig officially went public on the Madrid Stock Exchange on May 3. This IPO is the largest in Spain since 2015 and the largest in Europe this year. Currently, Puig’s market capitalization is around $15.26 billion (14 billion euros), surpassing Natura&Co, Coty, and Shiseido. After going public, the Puig family retains 71.7% ownership and 92.5% of the voting rights in the board. In 2023, Puig’s sales grew 19% YoY to a record $4.69 billion (4.3 billion euros), with EBITDA increasing by 33% to $926.5 million (850 million euros).