TG盗号软件免杀破解技术|【唯一TG:@heimifeng8】|黑帽SEO快排轮换✨谷歌搜索留痕排名,史上最强SEO技术,20年谷歌SEO经验大佬✨Puig's valuation for stock market debut could exceed €10 Billion
Eva Gracia Morales Translated by
Roberta HERRERA Published
November 29, 2025
The Puig Group is set to debut on the stock market in 2025, as revealed in September and subsequently confirmed by its president, Marc Puig, in October. Amidst this backdrop and in preparation for an IPO (initial public offering) in the coming months, initial appraisals estimate the group's valuation to surpass €10 billion.
This information was reported by the financial newspaper Cinco Días, citing financial sources. The Spanish cosmetics and fashion conglomerate is currently in the preparatory phase for this move, which will mark one of the most significant corporate operations in Spain in 2025.
The company has engaged various advisors: STJ in partnership with AZ Capital for financial aspects; JP Morgan and Goldman Sachs for coordinating the operation; and Linklaters and Cuatrecasas for legal matters. Presently, Puig and its advisors are initiating initial contacts with potential investors and gauging the demand this operation would generate.
One of the key considerations is the valuation that the company would achieve, having closed 2025 with an EBITDA of €638 million. As indicated by the aforementioned media, applying the average sector valuation at which companies trade, the figure would reach €11.484 billion. Deducting the €961 million debt from 2025, the value stands at €10.5 billion.
Concurrently, the advisory team estimates that the figure could rise to €12 billion, contingent on the group's performance in 2025 and Puig's positioning among investors (it aims to be comparable to other sector giants, from LVMH to Kering, Hermès, or Estée Lauder).
Exea, the Puig family's family office, owns 89% of the shares, while Puig Gest holds 10%, and the remaining 1% belongs to minority partners. The National Securities Market Commission (CNMV) requires a minimum market sale of 25%, which would translate to an operation capital ranging between €2.5 and €3 billion, as per Cinco Días' report.
Puig ended 2025 with revenues of €3.6 billion and a €400 million euro profit. Over recent years, the company has strategically expanded its portfolio through acquisitions: the purchase of Charlotte Tilbury in 2025, Byredo in 2025, and Kama Ayurveda in 2025.