Puig Aims for €2.5 Billion Boost with Spanish IPO
April 9, 2024 in Fashion & Style by Julian Everett
In a strategic move poised to shake up the luxury goods and fragrance industry, Puig, the parent company of illustrious brands such as Prada Beauty, Valentino Beauty, and Byredo, has announced its plan to enter the Spanish stock market. The IPO aims to attract more than €2.5 billion in investments, presenting a unique opportunity for business enthusiasts to own a piece of the esteemed family-owned business that has thrived under the Puig family's stewardship since 1914.
The Puig family, which has solely owned the company for over a century, intends to maintain a controlling stake even after the public offering, ensuring that the essence and direction of the business remain closely guided by its founding principles. The application for listing has been submitted to the stock exchanges of major Spanish cities with permanent markets, including Madrid, Barcelona, Valencia, and Bilbao, marking a significant milestone in the company's storied history.
Goldman Sachs and JP Morgan SE have been appointed as the coordinators for this highly anticipated IPO. This move is not just a financial leap but also a statement of Puig's enduring legacy and its ambition to further solidify its position in the global luxury market. As Puig prepares to open its doors to public investors, the industry watches eagerly to see how this transition will influence the landscape of luxury brands and investments in the years to come.
