Puig reported first-quarter 2026 net revenue of €1,215 million, up 4.7% on a like-for-like basis and 0.8% reported, continuing to outpace the premium beauty market. Currency headwinds, particularly the US dollar, weighed on reported figures with a negative 4.0% impact.
The Fragrance and Fashion segment, 74% of total sales, grew 3.9% LFL to €897 million, driven by Carolina Herrera and double-digit gains in niche fragrances despite a demanding comparison base. Makeup delivered €171 million, up 9.2% LFL, as Charlotte Tilbury posted strong results across Asia-Pacific and EMEA. Skincare rose 4.7% LFL to €147 million, supported by Uriage’s Xemose C8+ franchise and Apivita.
By region, Asia-Pacific stood out with 26.1% LFL growth to €131 million, though the region still accounts for only 11% of group sales. EMEA, representing 54% of revenue, grew 3.0% LFL to €656 million, with an estimated 1.2 percentage point drag from the Middle East situation concentrated in March. The Americas posted 2.0% LFL growth to €428 million, with reported revenue down 5.0% due to foreign exchange. Carolina Herrera in prestige and Byredo in niche led the Americas performance.
Puig confirmed its full-year 2026 outlook, expecting to again outperform the premium beauty market on a like-for-like basis while keeping adjusted EBITDA margins stable despite a tougher cost environment.