Spanish beauty group Puig reported a 12% increase in net profit for 2025 to 594 million euros ($703 million), supported by strong growth in makeup and skincare.
Sales rose 7.8% at constant currency to 5.04 billion euros ($5.96 billion), though results were partly offset by a 2.6% negative currency impact and slower growth in its core fragrance segment. Fragrances and fashion, which account for 73% of revenue, grew 3.8%, while makeup and skincare rose 10.7% and 7.3%, respectively.
The results come as the global fragrance market shows signs of normalization following post-pandemic growth. Puig said it has taken pricing actions and adjusted inventory shipments to mitigate U.S. tariff pressures.
Looking ahead, the company expects stable margins in 2026, with revenue growth outpacing the premium beauty market, supported by operational efficiencies and an improved product mix.
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