Key Takeaways:Fragrance leads Puig’s growth, anchored by Rabanne, Herrera, and Gaultier.Charlotte Tilbury drives makeup rebound with strong innovations and expansion.Skincare accelerates, led by Uriage Suncare and Kama Ayurveda.Puig delivered a strong first half of 2025, with net revenues climbing to €2.3 billion ($2.69 billion), up 7.6% like-for-like (LFL) and 5.9% reported, outperforming the global premium beauty market. The results underscore the Barcelona-based company’s growing influence across fragrance, makeup, and skincare, backed by strategic innovation, brand desirability, and global expansion.Fragrance Leads the ChargeFragrance and fashion, Puig’s largest business segments, accounted for 73% of revenues at €1.68 billion ($1.96 billion), with an 8.6% LFL increase. Growth was driven by the strength of global powerhouse names, including Rabanne, Carolina Herrera, and Jean Paul Gaultier, as well as continued momentum in the niche category. Byredo delivered double-digit gains, while anticipation builds for Carolina Herrera’s La Bomba, the brand's biggest fragrance launch since 2016.Makeup Recovery Gains TractionAfter a softer start to the year, Puig’s makeup portfolio, dominated by Charlotte Tilbury, rebounded in Q2 with double-digit, LFL growth (10.5%). For the half, the category generated €339 million ($396 million), a modest 2% LFL lift. Innovations like the Super Nudes collection and the expansion of the Unreal franchise helped drive momentum. Charlotte Tilbury remains the number one prestige makeup brand in the UK and number three in the US, affirming its leadership in color cosmetics.