Puig reported an 8% rise in first-quarter sales, beating analysts' expectations, reporting €1.21 billion ($1.38 billion) in sales in the first quarter of 2025 and maintaining its 2025 outlook.

Marc Puig, Chairman and CEO of Puig, said, “We’re off to a strong start in 2025, continuing to outperform the premium beauty market. Once again, our largest segment—Fragrances and Fashion—is our top performer, which is a testament to the strength of our Prestige and Niche brands and the desirability and resilience of our portfolio. We’re also pleased to see growth across all regions, with the Americas outperforming. Looking ahead, we maintain our 2025 outlook in spite of the challenging global macroeconomic environment.”

Fragrances and Fashion, which accounts for 74% of Puig's revenue, delivered another strong result with €896 million in net revenues and growth of +10.4%, driven by the Americas and APAC. The fragrance segment remains healthy across all categories, from Prestige to Niche.

Makeup, which represents 14% of Puig's revenue, delivered €165 million in net revenues and registered a -4.2% decline in reported growth against the backdrop of continued softness in premium makeup.

Skincare, which delivered €144 million, represents 12% of Puig's revenue and demonstrated solid performance with +7.8% growth on a reported basis, in line with expectations.

Half of Puig's revenue comes from Europe, the Middle East, and Africa, with the Americas contributing one-third with sales growth of 11.5% during the first quarter.

Puig maintained its expectation for a slowdown in revenue growth to 6%-8% this year following an 11% sales increase during 2024, partly due to tariffs at current levels in the US, one of its biggest markets.

Chairman and CEO Marc Puig said the company expects any impact the tariffs may have will already be offset by Puig's extra inventory in its US warehouses "plus a certain price increase that we will be implementing during the year once the stocks are depleted."