Spanish fragrance house Puig says it remains on track for record revenues in 2017, despite costs relating to acquiring the license of Jean Paul Gaultier last year.
The new deal with the brand and other new launches have contributed to net revenues growing by 9% on 2015, reaching €1.79bn in 2016.
Final net incomes reach €155m last year. The conglomerate expects revenues of €2bn in 2017.
New launches
Despite the €90m licence deal with Jean Paul Gaultier, the family-owned company attributes the takeover and product launches to the revenue increase.
L’Homme and La Femme by Prada, Luna by Nina Ricci and Good Girl by Carolina Herrera were released last year.
Luxury brand Penhaligon’s opened six new owned stores in the US and ‘consolidated its position in the rest of the world’ with 16 stores in the UK, six in Asia, and two in Paris.
The house also said growth in sales was supported by the launch of the new Portraits line, designed to be a tribute to British eccentricity and aristocracy.
In addition, L’Artisan Parfumeur renewed its image and opened a new store in Paris as part of the brand’s revamp.
Other launches include Colors by Benetton and Dance by Shakira.
Minority stakes
In April, Puig acquired a minority stake in niche perfume Los Angeles-based brand EB Florals.
Puig also acquired a minority stake in Granado in September.
Founded in 1870, the Brazilian brand helps Puig move into the natural product category.
With more than 900 products in its portfolio, Granado focuses on premium natural preparations. It currently owns 51 stores across Brazil.
Current moves
The company remains optimistic as its revenues grew by 13% during the first quarter of 2017. It predicts that it will hit its goal of boosting revenues by 33% during the period 2015-2017.
Puig has created two subsidiaries this year, one is Colombia and the other in Australia.
It also announced a joint venture based in Singapore with Luxasia, one of the biggest distributors in the Asian market, to consolidate its operations in South-East Asia.
