Puig generated EUR 2,299 million in net revenue in H1 2025. This represented +7.6% like-for-like (LFL) growth compared to the same period of 2024 and +5.9% on a reported basis as exchange rates negatively impacted the first half of 2025 (-1.7%). Puig’s performance in Q2 (+7.7%) remained consistent with Q1 (+7.5%).
“We showed robust performance across our segments and regions, reflecting the health and resilience of our portfolio in an evolving global beauty market,” said Marc Puig, Chairman and CEO of the group.
Puig’s “Fragrance and Fashion” business segment delivered reached EUR 1,685 million in net revenue in H1 2025, up +8.6% LFL (+6.5% reported) representing 73% of Puig’s revenue during the period.
The “Makeup” segment returned to positive growth in H1 2025 with a net revenue of EUR 339 million and +2.0% LFL growth (+1.4% reported), contributing 15% of the group’s revenue.
Eventually, the “Skincare” segment continued showing a strong performance in H1 2025 with net revenue of EUR 276 million and +8.6% LFL growth (+8.1% reported), representing 12% of Puig’s net revenue in the period.
“Fragrance continues to show healthy underlying growth after several exceptionally strong quarters, albeit at a slightly more moderate pace, and it is encouraging to see the recovery of Makeup in Q2. We remain confident in our ability to outperform the premium beauty market and we maintain our full-year outlook,” said Marc Puig.
While EMEA remains the company’s main source of revenue (52% during the period), it also posted the slowest growth (+3.6% or +3.9% reported) in H1 2025.
The Americas continued its solid trajectory generating net revenue of EUR 867 million in H1 2025 with a +10.9% LFL growth (+6.5% reported). This represented 38% of Puig’s net revenues.
For its part, the APAC region net revenue reached EUR 234 million in H1 2025, growing +16.5% LFL (+14.7% reported) and representing 10% of Puig’s net revenue in the period.
For the full-year 2025, Puig said that it maintains its growth forecast of 6 to 8% on a comparable basis.
