How do you become a millionaire? Considering a men’s fragrance called One million. It seems obvious! José Manuel Albesa, head of the category since last year, is behind this jackpot, which has allowed the Catalan company Puig to propel itself into the world perfume market. where it becomes one of the three leaders, along with the American Coty. and France’s L’Oréal.
By the Numbers (2017)
• Turnover: €1.93 billion (+8.1%).
• Revenue: €228 million (+47%).
• Average annual growth rate: 28%.
• 15% of sales are made in Spain, 44% in emerging countries, the rest is divided between Europe and North America.
We are in the 2000s. Puig is the leader in Spain, but he is struggling to establish himself on the international stage. His last big success, the perfume Paco Rabanne pour Homme, was launched in 1973, and it was not enough to put the company against the giants of the sector… Albesa’s idea for asking for a beautiful food that works best in the public market.
It uses the codes of Ax, a brand of deodorants appreciated for its “punch” scent, its packaging and its 100% offbeat advertising aimed at young men. With its note of patchouli, its bottle in the form of gold and its stability bling bling, One Million Success in the World. More than 28 million bottles have been sold in twenty years…
How to celebrate his century? By building a monument… Halfway between the airport and Barcelona city center,
Puig’s headquarters since 2014, the tower was founded by Philip VI and his wife Lætitia, then Prince and Princess of Asturias. Its angular silhouette, 100 m high, was designed by the great Spanish architect Rafael Moneo.
The house aims to prove the club’s commitment to Catalonia and its desire to conquer the world. This building, which welcomes more than 23,000 people every day, is at the forefront of modern technology and reflects the family’s passion for art and design.
It is represented by a painting of the famous Catalan artist Juan Miró, on loan from the Miró Foundation and displayed in the room.
A masterstroke, although the perfume does not deny its roots and is very close to the non-conformist culture and the provocation of the man whose name is called: Paco Rabanne. Since then, the Catalan house has been linked to the success of Antonio Puig, the founder.
Although, for fifty years, Puig has dominated the Spanish market only, thanks, among other things, to Agua Lavanda, a cologne that the Spaniards love.
Back-to-back wins for Puig
Mariano Puig, one of Antonio’s sons, decided to team up with the Spanish designer Paco Rabanne, in 1968, in Paris, to introduce perfumes in his name. This company will allow the family business to cross the boundaries with Paco Rabanne pour Homme, a perfume that changed its time in giving its sweet and strong notes.
But time passed and what happened next was only half the battle. After clearing the accounts, the Puigs were able to learn from their failure. They have refined their portfolio of local brands to focus on style and fragrance, taking advantage of this great travel.
Puig in a few days
• 1914: foundation of Antonio Puig SA by Antonio Puig Castallo.
• 1922: Milady lipstick is invented.
• 1940: Agua Lavanda cologne is launched.
• 1969: 1st Paco Rabanne perfume, Calandre.
• 1973: Paco Rabanne pour Homme reinvents men’s perfume.
• 1987: Puig acquires 100% of the house Paco Rabanne.
• 1988: the first perfume is released by Carolina Herrera.
• 1995: bought Carolina Herrera.
• 1998: purchase of Nina Ricci.
• 2002: License Comme des Garçons.
• 2003: License Prada.
• 2010: License Valentino.
• 2011: acquires Jean Paul Gaultier.
• 2015: acquisition of Penhaligon and L’Artisan Parfumeur.
• 2018: License Louboutin Beauty.
Other achievements include: good girl by Carolina Herrera, Invictus for Paco Rabanne, Pictures from Pennsylvania. The latter tells the story of an olfactory fictional character, inspired by the Victorian aristocracy, each member represented by an animal head. Lord George a deer Lady Blanchea dog…
In 2015, amid a wave of niche perfumers, Puig bought the Penhaligon and L’Artisan Parfumeur brands from British investment bank Fox Paine & Company. Houses chosen for their creativity and history, and their offering: boutiques in their own name.
This beautiful site is expensive, but profitable, and it has attracted all the big brands that are looking to differentiate themselves. Since their introduction, these small – but prestigious – houses that did not advertise and work only by word of mouth, have announced a double digit growth. They can be a model for new products in other markets.
Last March, Christian Louboutin signed a global licensing agreement with Puig for the production, development and distribution of his beauty line. It was launched in 2014, with the New York company Batallure Beauty and comes in lipsticks, nail polishes and perfumes with an elitist and original touch, drawing their inspiration from the Queen of Egyptian Nefertiti, before the heel of the stiletto pumps. This agreement allows the shoe manufacturer to share the costs incurred in protecting the freedom of its red soles and strengthen its distribution. For Puig, this is a connection, because the company is new in this sector, but Louboutin’s potential is known. It remains to be seen if the situation will continue. A Louboutin lipstick is on sale for €85 and a nail polish for €50…
The acquisition of the Jean Paul Gaultier factory and the appointment of Ralph Toledano, the president of the French Federation of Couture, at the head of the fashion department gave reason to believe that the company would seek to competition with giants LVMH and Kering. The departure of Ralph Toledano, and his replacement last year by José Manuel Albesa, have shown that this is not the case.
Fashion is a vector image, an exhibition that supports the launch of perfumes. Appeal, the woman released in Jean Paul Gaultier, will not put herself in the top 10, despite all the awards she received. It is considered that there are too many 80s ideas by experts in the sector.
This does not prevent them from praising the vision and plan of President Marc Puig. The latter includes the fourth generation of the family that owns his business and has been able to open his board to the right skills.
In particular, it has concluded strategic agreements to establish its distribution by establishing a joint venture with Luxasia in South-East Asia, and TrimexPty Ltd, a subsidiary of the Clarins group, for Australia. and New Zealand. At the same time, he launched Puig Futures.
The goal? Diversify the business through other forms of business. ” Digital transformation has implications for consumption. We need to reinvent the scent, create new experiences, with brands that redefine the industry and grow above the average. “, he said now. The ambition is to reach 3 billion euros in turnover by 2025.
The Catalan passion
We often forget it, but Catalans love the sea. The Puig family is no exception and has founded the Regata Puig Vela Clàssica Barcelona, a An amazing time to look at the beauty and the range of the boats: they must have sailed before 1949 – this means entering the regatta if it is “vintage” -, or 1979 if are “classes”. Everything should be made of wood and metal only. Among this year’s participants are the Moonbeam IV, where Prince Rainer and Princess Grace of Monaco spent their honeymoon, and the Manitou, piloted by President John F. Kennedy. across the Atlantic for this special race.