THE WHAT? Spanish beauty company Puig has reported slower first-quarter sales growth but maintained its full-year outlook.
THE DETAILS Puig posted Q1 net revenue of €1.22 billion, representing 4.7% like-for-like growth and 0.8% reported growth. The slowdown was driven by softer demand in fragrances, which remain the company’s core revenue driver. Geopolitical tensions in the Middle East disrupted travel retail—particularly airport shopping—resulting in an estimated 1.2% negative impact on sales, mainly in March. Despite this, the company noted growth across all divisions and continues to monitor ongoing geopolitical developments.
THE WHY? The results reflect broader pressures on the global beauty market, including cooling demand in the fragrance category and reduced international travel, which is a key sales channel for premium beauty brands.
Source: Reuters
