Puig, the Spanish beauty conglomerate, announced a 4.7% like-for-like revenue increase to €1.2 billion in the first quarter of 2026. The company outperformed the premium beauty market amid challenges in key regions. CEO Jose Manuel Albesa highlighted strong growth in makeup and skincare.
Puig disclosed its first-quarter results on Tuesday, with revenues reaching €1.2 billion, up 4.7% on a like-for-like basis. Fragrance and fashion, which made up 74% of total revenue at €896.4 million, grew 3.9%. Makeup sales surged 9.2% to €171 million, led by Charlotte Tilbury's performance in Asia-Pacific and EMEA, while skincare rose 4.7% to €147 million, boosted by Uriage and Apivita. Charlotte Tilbury's standout products included the Airbrush Flawless Blur concealer, Balm Lip Tint, and Beauty Soulmates Palette. Loto del Sur expanded in Latin America, and niche fragrances like Byredo saw double-digit growth alongside Carolina Herrera’s La Bomba launch in the US. Fashion brands Dries Van Noten, Nina Ricci, and Jean Paul Gaultier contributed steadily, though no successor has been named for Nina Ricci's Harris Reed. Regionally, EMEA generated 54% of revenue at €656 million with 3% growth, Americas 35% with 2% growth, and Asia-Pacific jumped 26.1% to €131 million. The Middle East dipped 1.2% due to ongoing conflict, which Puig expects to persist. On the potential merger with Estée Lauder Companies, announced in March, Puig stated no final decision has been reached, and no assurances exist on terms or completion. “Once again, Puig delivered a solid Q1, outperforming the premium beauty market,” said CEO Jose Manuel Albesa, appointed in March. He praised the resilience of prestige and niche brands and noted a strong innovation pipeline ahead.
