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Puig Reports Record Third-Quarter Sales as Make-Up and Asia-Pacific Drive Growth

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Puig Reports Record Third-Quarter Sales as Make-Up and Asia-Pacific Drive Growth

THE WHAT? Puig has reported record third-quarter 2026 net revenues of €1.39 billion, representing growth of 5.6% on a like-for-like basis and 7.2% on a reported basis, driven by strong performances in make-up, niche fragrances and Asia-Pacific.

THE DETAILS Net revenues for the first nine months of 2026 reached €3.75 billion, up 4.8% like for like and 4.1% on a reported basis. Make-up was the fastest-growing business segment, with third-quarter sales increasing 16.1% like for like to €270 million, supported by Charlotte Tilbury innovations. Fragrance and Fashion revenues rose 3.9% to €986 million, benefiting from Carolina Herrera, Rabanne and Jean Paul Gaultier. Skincare declined 0.8% like for like during the quarter, although dermo-cosmetics, led by Uriage, maintained double-digit growth. Asia-Pacific was the strongest-performing region, growing 12.9% like for like. Puig reaffirmed its full-year outlook, expecting to outperform the premium beauty market while maintaining stable adjusted EBITDA margins.

THE WHY? The results highlight the growing importance of make-up, niche fragrances and dermo-cosmetics in driving premium beauty sales, while softer performance in prestige skincare illustrates differences in demand across categories. Strong Asia-Pacific growth also reinforces the region’s importance to Puig’s international expansion strategy as the group continues diversifying its beauty portfolio.



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