
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

LeMonde
an hour ago
- LeMonde
Cognac drags down LVMH's spirits division
The engine driving cognac sales has yet to regain full speed. LVMH acknowledged it in its half-year results, published Thursday, July 24. Moët Hennessy, its wine and spirits division – of which British company Diageo owns 34% – reported an 8% drop in revenue to €2.58 billion. This marks a further slide after an 11% decline over 2024, to €5.9 billion. The blow was even harsher for recurring operating profit, which fell by one-third to €524 million in the first six months of 2025. The group, led by Bernard Arnault, explained the disappointing performance due to "weak demand for cognac" and "the impact on customers of trade tensions weighing on key markets in the US and China." The US and China accounted for 80% of sales of the prized Charente region spirit, whose leading brand is Hennessy. Across the Atlantic, LVMH – and major competitors such as Pernod Ricard, owner of Martell, or Rémy Cointreau, known for its Rémy Martin brand – were caught off guard. After the post-Covid-19 boom, the wave of inflation disrupted consumer behavior. They suddenly became more cautious about spending just as spirits groups continued to raise their prices. The drop-off was abrupt. Chinese customers also adopted a wait-and-see attitude, troubled by their country's economic slowdown. After trade battles On top of this new consumer mindset, fierce trade battles compounded the problem. Since early 2024, cognac has been ensnared in a conflict between Europe and China. The sector breathed a sigh of relief in early July. Although Beijing decided to impose 32% tariffs on European wine-based spirits, most companies that agreed to set a minimum price – in effect, a price increase ranging from 12% to 16% – were granted exemptions. LVMH benefited from this agreement. Likewise, Rémy Cointreau revised down the impact of Chinese tariffs on Friday, July 25, from €40 million to €10 million. Conversely, the impact in the US would rise from €25 million to €35 million.


Euronews
2 hours ago
- Euronews
EU member states adopt retaliatory hit list in response to US tariffs
The member states on Thursday approved the list of retaliatory tariffs proposed by the European Commission to counter US trade measures, with only Hungary voting against. The list includes an initial package of measures adopted in early April, with up to 30% tariffs targeting products including aircraft, cars and car parts, orange juice, poultry, soybeans, steel and aluminium, yachts. Bourbon whiskey was also included in the list despite intense lobbying by France and Ireland which fear US retaliation on wine and spirits. EU Industries were also consulted before the Commission proposed the list to the member states. The countermeasures will only enter into force if no deal is reached by the 1 August, the deadline set by US president Donald Trump from when he's set to impose 30% tariffs on EU imports. Anti-coercion instrument A qualified majority of member states also appears willing to trigger the anti-coercion instrument, which would enable the EU to hit US services if no deal is reached. Germany was for a long time resistant to using this powerful bazooka, but has now joined France, which has long been a strong advocate of the anti-coercion instrument. Following a dinner on Wednesday between German Chancellor Friedrich Merz and French President Emmanuel Macron, a source from the Élysée stated the shared vision of both leaders on the ongoing negotiations between the EU and the US. 'They hoped for a satisfactory outcome to the discussions that would safeguard the EU's interests,' the source said, adding 'while simultaneously accelerating work on countermeasures — including the anti-coercion instrument — in coordination with the Commission, should an agreement not be reached.' The US currently impose 50% on EU steel and aluminium, 25% on cars and 10% on all imports. This article has been updated.


Euronews
2 hours ago
- Euronews
Immigration is "killing Europe", says Trump
Upon his arrival in Scotland for a five-day trip, US President Donald Trump declared that immigration is "killing Europe". Responding to a question from a reporter on migration, he said that "on immigration, you'd better to get your act together. You're not going to have Europe anymore." He continued to say that "You've got to stop this horrible invasion that's happening to Europe. Some people, some leaders have not let it happen. They're not getting the proper credit." He did not name the leaders he had in mind, however, in order not to "embarrass" the others. The US President is set to meet with EU Commission President Ursula von der Leyen during his visit, as well as British Prime Minister Keir Starmer. Von der Leyen had said they would "discuss translatlantic relations", in a week when negotiations have intensified ahead of 1 August, a deadline set by Trump from when he said will impose 30% tariffs on EU imports. EU member states meanwhile approved a llist of countermeasures of their own if no deal is reached. For his part, Trump said on Friday that reaching a deal with the EU on trade would be "the biggest deal of them all if we make it." 'Stop the windmills' The US president also took the opportunity to take aim at wind energy, saying Europe should "stop the windmills, you're ruining your countries... ruining your beautiful fields and valleys, and killing your birds." Trump has on multiple occasions expressed an intense dislike for wind turbines, recently saying "'I don't want windmills destroying our place.' The Trump Organisation, whose assets are currently in a trust run by is children, was ordered to cover the Scottish government's legal costs after the golf course it owns in Aberdeenshire unsuccessfully sued over the construction of a nearby wind farm, arguing in part that it hurt golfers' views. While in Scotland, Trump will visit a golf course in Aberdeenshire ahead of its opening on 13 August, and another near Turnberry. His family owns both golf courses.