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The pandemic took its toll, but the company still has a positive outlook for the future.
April 28, 2021
By: Charlie Sternberg
Associate Editor
Puig, a family-owned beauty and fashion company, closed 2020 with a loss. Reported net sales totaled €1.54 billion ($1.86 billion), a 32% decrease on a like-for-like basis compared to 2019. The decline was largely due to the impact of the COVID-19 pandemic. Lockdown and social distancing measures reduced perfume and fashion consumption, while the company’s business customers all over the world started to close down: perfumeries, department stores, airport shops and shopping malls. “Janua...
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