Link Securities | Marc Puig, president and CEO of Puig Brands, attributed the 31% loss of its share price since its IPO on 3 May 2024 to market doubts about the evolution of the sector, and not to the operation of the business, Expansión reports today. He believes this is due to the market’s assumption that the sector will be affected by increased uncertainty, something that was not foreseen last year, Puig said at the Financial Times Business of Luxury Summit in Barcelona.
Puig told industry experts that the Catalan group manages a diversified portfolio, with more than 40 brands in over 150 countries, with which it can manage the economic cycles and those of the brands themselves. We are confident in the sustainability of our business model in the long term and also in the evolution for the next quarter, added Puig.
