This intelligent family company has increased success with its brands Paco Rabanne and Nina Ricci. She also makes Zara and Mango perfumes.
Gold bar. In a heavy perfume market, Paco Rabanne wrote an unexpected success story in eighteen months with his one millionth men’s fragrance. Released in August 2008, this bottle in the form of a gold ingot has always held the first place in sales in France and between the first and third places in all the countries where it exists. His transfer will increase to 120 million euros, a record that will make all competitors jealous. After this event, there was an unknown player in the perfume sector: the Spanish company Puig, founded in Barcelona in 1914.
Clothing and accessories
This Tom Thumb of the company represents the giants L’Oréal (Armani, Lancôme, Ralph Lauren), Procter & Gamble (Lacoste, Gucci, Dolce & Gabbana), Coty (Marc Jacobs, Chloé) or LVMH (Dior, Givenchy , Kenzo) began to cause trouble. Its market share in France increased from 3% to 7% in three years. Globally, he expects to increase from 5% to 8 or 10% of perfume sales within five years. In addition to Paco Rabanne, who owns the Parisian fashion house Nina Ricci, whose latest perfume Ricci Ricci is in the top 10 of sales, and the Spanish name Carolina Herrera. It also produces Prada perfumes and items from the Comme des Garçons label, as well as the cosmetics brand Payot. And he added this beautiful house to the license of Valentino perfumes, he will take a year from Procter & Gamble.
“Faced with the continuity of distribution, the only way to survive is to grow. Our company will consolidate, we want to be among the “consolidators”, not among those who added. So we need to grow by about 50% in the next five years and we will work hard to find sales opportunities,” announced Marc Puig. At the age of 48, the founder’s grandson ran the family business for three years. This innovative strategy allowed him to limit the damage before the great fall in world production in 2009. Not only did consumers avoid perfumes, but the finally, reducing their order to the producers. Soon, Puig saw a small amount of his turnover, almost one billion euros, but, much less than his competitors, he was able to gain market share. With a snub to the dark. “In a crisis, we sold a gold bar at 62 euros,” laughed the CEO, referring to the success of One million.
He wants to take someone astray. “Their main mistake is to try to prevent failures by releasing industrial products that kill the producers and innovations that appeal to the greatest number. We do the opposite, take measure the risks,” said Marc Puig. He took on the task of relaunching the skills of the famous Nina Ricci house with a young designer and, in turn, creating perfumes for the consumer chain Zara, Mango or Springfield.