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Puig Aims to Cross 8-Billion-Euro Yearly Sales Mark by 2032

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Puig Aims to Cross 8-Billion-Euro Yearly Sales Mark by 2032

The Spanish beauty and fashion group is unveiling its Vision 2032 strategy during the group’s first Capital Markets Day.

MADRID – Puig aims to surpass 8 billion euros in annual net sales by 2032, it announced Wednesday.

The Spanish beauty and fashion company is presenting its strategy at Puig’s first Capital Markets Day, held in Madrid. Its new roadmap is called Vision 2032.

“Vision 2032 is our plan to scale what works, profitably,” said José Manuel Albesa, chief executive officer of Puig, in a statement released prior to the event’s start.

The maker of Carolina Herrera, Rabanne and Jean Paul Gaultier beauty and fashion – which registered full-year 2025 sales of 5.04 billion euros – is setting out to focus on organic growth and scaling the group’s core portfolio profitability.

The company has set a new target for a more than 22.5 percent adjusted EBITDA margin. Its free cash flow conversion goal is above 50 percent of adjusted EBITDA, which translates into more than 900 million euros of free cash flow in 2032.

The group has maintained its commitment to a 40 percent dividend payout ratio and leverage threshold of 2-times at year-end.

Puig, which started trading as a listed company in 2024, aims to become a top-four premium beauty company and a top-two fragrance player by 2032. The group’s four portfolio priorities are in prestige fragrances, niche fragrances, Charlotte Tilbury and dermocosmetics.

Geographically, Puig sets out to reinforce its business in EMEA, Latin American and travel retail, while stepping up growth and unlocking opportunities in North America and the Asia-Pacific region.


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