
Puig's quarterly sales rise a steady 8%
See catwalk
Puig reported 1.09 billion euros ($1.27 billion) in sales during the second quarter, in keeping with the 1.1 billion euros forecast by analysts in an LSEG poll, and achieving the same magnitude of revenue increase year-on-year as in the previous quarter.
The Barcelona-based group confirmed that it expects revenue growth to decelerate to between 6% and 8% in 2025 after an 11% increase in 2024, as it navigates the challenge of expected higher tariffs in the United States, one of its biggest markets.
Chairman and CEO Marc Puig said during a call with analysts that whatever tariffs will be, the impact this year "will be relatively minor because most of the stock is already in the United States".
Sales in the Americas rose 10% in the quarter, despite trade tensions stemming from an initial 10% increase in U.S. tariffs and Washington's promise of more levies, while sales in Asia improved by 19.5%. Still, the EMEA region remains its main market.
Puig has priced the additional 10% U.S. tariff into its annual sales projection.
U.S. President Donald Trump on Saturday threatened to impose a 30% tariff on imports from the European Union starting on August 1, escalating trade tensions that may affect major beauty industry players such as L'Oreal, opens new tab and Estee Lauder, opens new tab, alongside other sectors such as European wine or clothing.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


France 24
a minute ago
- France 24
TikTok launches crowd-sourced debunking tool in US
Footnotes, a feature that the popular video-sharing app began testing in April, allows vetted users to suggest written context for content that might be wrong or misleading -- similar to Community Notes on Meta and X. "Footnotes draws on the collective knowledge of the TikTok community by allowing people to add relevant information to content," Adam Presser, the platform's head of operations and trust and safety, said in a blog post. "Starting today, US users in the Footnotes pilot program can start to write and rate footnotes on short videos, and our US community will begin to see the ones rated as helpful -- and rate them, too," he added. TikTok said nearly 80,000 US-based users, who have maintained an account for at least six months, have qualified as Footnotes contributors. The video-sharing app has some 170 million US users. TikTok said the feature will augment the platform's existing integrity measures such as labeling content that cannot be verified and partnering with fact-checking organizations, such as AFP, to assess the accuracy of posts on the platform. The crowd-sourced verification system was popularized by Elon Musk's platform X, but researchers have repeatedly questioned its effectiveness in combating falsehoods. Earlier this month, a study found more than 90 percent of X's Community Notes are never published, highlighting major limits in efficacy. The Digital Democracy Institute of the Americas (DDIA) study analyzed the entire public dataset of 1.76 million notes published by X between January 2021 and March 2025. TikTok cautioned it may take some time for a footnote to become public, as contributors get started and become more familiar with the feature. "The more footnotes get written and rated on different topics, the smarter and more effective the system becomes," Presser said. Tech platforms increasingly view the community-driven model as an alternative to professional fact-checking. Earlier this year, Meta ended its third-party fact-checking program in the United States, with chief executive Mark Zuckerberg saying it had led to "too much censorship." The decision was widely seen as an attempt to appease President Donald Trump, whose conservative base has long complained that fact-checking on tech platforms serves to curtail free speech and censor right-wing content. Professional fact-checkers vehemently reject the claim. As an alternative, Zuckerberg said Meta's platforms, Facebook and Instagram, would use "Community Notes." Studies have shown Community Notes can work to dispel some falsehoods, like vaccine misinformation, but researchers have long cautioned that it works best for topics where there is broad consensus.


Fashion Network
an hour ago
- Fashion Network
From Estée Lauder to Lancel: Paola Falchi steps in as MD
A new chapter begins at Lancel as Paola Falchi is appointed to lead the historic French leather goods house. Owned by Italy's Piquadro Group since 2018, the brand — originally founded in 1876 by Angèle and Alphonse Lancel — is now under Falchi's direction. She succeeds Francesco Pesci, who had overseen the Paris-based label since January 2023. The brand's new leader, who began her career in finance departments in the pharmaceutical industry, expanded her expertise with an executive MBA at HEC in 2018. With experience as director of corporate finance at Estée Lauder and director of operations, finance, and strategy at Issey Miyake Europe between 2020 and late 2024, Paola Falchi now joins a company in renewed health. For the 2024–2025 financial year, the company reported sales of €68.8 million, up 6.5% from the previous year. 'Lancel is a company with a unique heritage and strong growth potential. The challenge is to extend this history by building sustainable growth, based on agility, innovation, and the highest standards of customer service. I am delighted to contribute, alongside the Piquadro Group, to the realisation of this ambition,' said the CEO in the brand's press release.


Fashion Network
an hour ago
- Fashion Network
Ted Baker 'plans high street return'
could be planning a return to UK physical retail if a report is to be believed, with a newspaper saying that it could be back next year. The report was in the Sun, which isn't known for it breaking business news stories, but it said that sources close to the matter have told it of plans for a high street come back in early 2026. That comeback would initially happen in London, we're told, although few details are available at present and it's unclear whether there will be shops outside the UK capital and how many physical locations are planned. The news comes after the once-high-flying brand closed all of its stores last August. The brand was founded in 1988 and was hugely successful in the ensuing decades, later listing on the stock exchange and being a popular choice for investors. As recently as a decade ago it had 550 shops and concessions globally, but the fashion sector downturn of recent years was devastating for the business. After going into administration it was acquired for £210 million in 2022 by US-based Authentic Brands Group, which changed its complete business approach, operating it on a licensing model. But this hasn't always worked out and in early 20204, Authentic cut ties with UK and Europe stores and webstore operator AARC, which was based in the Netherlands and had run into financial difficulties. After its store closures, the brand later last year returned to e-commerce and wholesale and a return to operating its own physical stores would see it coming full circle.