Report by Renta 4 Puig is reported to have paid more than €350 million to increase its stake in CT from 77.5% to 85%, according to reports in various media outlets. We note that the company has set aside nearly €1,000 million to fund the acquisition schedule for its portfolio companies over the coming years, which already factored in this increase in CT and is due to be completed by…
Report by Renta 4 Puig Brands announced yesterday afternoon (after the Spanish market had closed) that talks with Estée Lauder had ended without a merger agreement being reached. The company did not give any reasons for breaking off the negotiations. According to Puig, this decision does not alter its strategy, which remains focused on the premium segment, brand building, creativity, agility and long-term value creation. In the statement, it notes…
Renta 4 | According to a regulatory announcement issued by the company itself, it is in talks with Estée Lauder regarding a potential merger. According to the same information, no decision has been taken and no agreement has been reached at this stage, and neither the transaction nor its terms can be guaranteed. If the deal goes ahead, the resulting company could have a market capitalisation exceeding €35 billion, with…
Jefferies | A solid fourth quarter for Puig Brands (PUIG). The unclear outlook could influence the extent to which investors regain interest in the shares, but we believe that they continue to outperform their competitors at present. All three segments met the 6-8% forecast for fiscal year 2025, initially set in February 2025. Fragrances grew 1.3 times faster than the luxury category in fiscal year 2025, with 6.4% LFL in…
Renta 4 | The luxury retailer Saks has filed for Chapter 11 bankruptcy protection in the United States, with the aim of facilitating the restructuring of its debt, which is estimated to exceed €700 million. Saks’ creditors include leading global luxury companies such as Chanel, Zegna, LVMH, Christian Louboutin, The Estée Lauder, Giorgio Armani, Google, Burberry and Dolce & Gabbana. In the case of Puig Brands, the debt would amount…
Singular Bank | The IBEX 35 closed yesterday at a new high above 17,650 points. The day was marked by the rise of Puig Brands, which rose 5.7% after BNP Exane gave it a potential upside of 22% to €18 per share. In addition, the research firm has decided to upgrade its recommendation on the stock to “overweight” from the previous “neutral”. Also this week, Jefferies analysts maintained their “buy”…
Alphavalue / Divacons | The Spanish cosmetics company presented its Q3 2025 trading update yesterday after the close of trading. Net sales of €1.3 billion (up 3.2% year-on-year) compared to the €1.28 billion expected by the consensus. These quarterly results exceeded expectations, driven by exceptional momentum in the Makeup segment and continued strength in Asia. The makeup segment benefited significantly from Amazon’s new distribution channel, which accounted for approximately half…
Renta 4 | By the lows of last April, it had accumulated a 49% drop from its IPO highs. Since May, supply and demand have stabilised in a tedious range, with support at €15.7 and resistance at €17.45. Although this range could break downwards, we would be paying particular attention to the upper end, which is the transition zone of the main downtrend and a tactical turning point upwards. The…
Link Securities | As explained on Monday by Marc Puig, president and CEO of fragrance company Puig Brands (PUIG), in an interview with Bloomberg, Puig does not rule out a share buyback to boost its stock market value. ‘Over time, we will consider whether it is appropriate to take measures to help investors who have invested in the shares to obtain the value they believe they deserve,’ said Marc Puig,…
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…