Puig continues to increase market share in
the global prestige fragrance sector

Puig negotiates the crisis and improves its operating profit despite a slight fall in
revenues in a year of global economic recession.
2009 Results
Barcelona, May 27th, 2010
▪ Puig increases its market share in the global prestige fragrances sector above 6%,
outstripping the growth of its competitors thanks to its commitment to brands and creativity.
Over 50% of its revenues derives from products that did not exist 5 years ago.
▪ Despite the economic crisis, in 2009 Puig generated revenues of 984 million Euros, down
5% on the previous year, whilst increasing the proportion of revenues generated outside
Spain.
▪ EBIT, or operating profit, was 97 million Euros, representing an increase of 18% on the
previous year.
▪Puig continues with a net cash position of over 100 million Euros in 2009, which places it in
an ideal situation to look for new opportunities for global growth.
▪Puig signed an agreement with Valentino for the creation, development and distribution of
their fragrances.
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NAME OF THE ISSUING DEPARTMENT OR DIVISION OF THE REPORT
Growth of Net Revenues and Profit (2005-2009)
In million Euros
2005
2006
2007
2007
2008
2009
816
849
954
954
1.036
984
Operating Profit (EBIT)
18
32
37
37
82
97
Net profit attributed
To the group
3
15
34
34
86
83
Net Revenues
Growth in Fragrances In 2009, fragrances, which constitute the Puig core business, represented
83% of net revenues. Fragrance net revenues have fallen 3.5 % vs 2008. However this decline, which
is much less marked than in the rest of the fragrance sector, has permitted Puig to increase its market
share and consolidate its position at number 7 in the worldwide perfumery ranking, whilst closing in on
the 6th position.
For the second consecutive year the extraordinary growth of the Paco Rabanne Brand has been
outstanding, and represents an increase of 20% on last year thanks to the success of 1 Million, which,
after its launch in 2008, continues to gain in popularity and is currently the second most sold
masculine fragrance worldwide, excluding the USA where this line has not yet been launched.
Another of the motors for the growth in the perfumery sector has been the launch of the fragrance
Ricci Ricci by Nina Ricci, which reached the top 10 in the French market during the Christmas
campaign. Other launches were CH Men by Carolina Herrera, which also achieved excellent sales in
2009 permitting the Brand to consolidate its leadership in Latin America and maintain its global market
share, and l’Eau Ambrée by Prada.
In 2009 Puig also launched Seduction in Black by Antonio Banderas and Lady Rebel by Mango.
Cosmetics and Personal Care, with brands such as Payot, Maja and the distribution of Tresemmé
in Spain and Portugal, generated 12% of revenues.
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NAME OF THE ISSUING DEPARTMENT OR DIVISION OF THE REPORT
Fashion The Fashion business represented 5% of Puig net revenues.
In 2009 Nina Ricci named Peter Copping as the Brand’s new Artistic Director taking over from Olivier
Theyskens. A graduate of St. Martin’s School and the Royal College of Art, Peter Copping worked with
Christian Lacroix and Sonia Rykiel and subsequently became Marc Jacobs’ right hand man at Louis
Vuitton.
The English designer proposes a new vision of the Nina Ricci woman, ultra-feminine, sensual,
romantic and modern, reaffirming the values of the Brand.
The actresses Juliette Binoche and Nicole Kidman wore Nina Ricci in Cannes and at the Golden Globes respectively. The
singer Shakira wore a vintage Paco Rabanne creation in her most recent video.
Meanwhile in 2009 Carolina Herrera continue its expansion opening a new store in Las Vegas in
December 2009 with the ready to wear line “Carolina Herrera New York”
Opening of the new Carolina Herrera New York store in Las Vegas.
Some of the celebrities who have worn the Brand’s creations over the last year have been Michelle
Pfeiffer, Oprah Winfrey, Jessica Simpson, Renée Zellweger, Eugenia Silva and Belén Rueda,
amongst others.
The lifestyle line “CH Carolina Herrera” currently has 55 stores distributed across Europe, the United
States, Latin America and the Middle East.
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NAME OF THE ISSUING DEPARTMENT OR DIVISION OF THE REPORT
Geographically, Spain, the principal market for Puig, represented 29% of net revenues, whilst the
international market accounted for 71% (compared to 62% in 2005), thereby increasing the
importance of the company’s international business. Europe stands out, with 26% of net revenues in
2009, up more than 8%. The creation of a new subsidiary in Holland will help growth to continue in
this region.
Puig also continues to consolidate its leadership in Latin America where it generated 17% of net
revenues with growth of 9% on the previous year. Chile and Brazil, where Puig acquired a new
subsidiary in 2008, has seen especially strong growth. Finally, the rest of the world including Russia,
the Middle East, India and China generated 11% of net revenues.
Currently Puig sells its products in over 130 countries and has 22 subsidiaries throughout the world.
Future Plans
2010
Sales for the first 4 months of 2010 represent growth of 24% on last year, driven by the recovery of
certain international markets, the success of recent years’ launches and the end of the inventory
reduction process carried out by customers, particularly in the first quarter of 2009.
Net Revenues
January – April 2010
Growth
2010 vs 2009
Proportion
Spain/international
Spain
+9%
25%
International
+30%
75%
Total Puig
+24%
100%
Puig hopes to finish 2010 maintaining double-digit growth.
2011
2011 will be marked by the incorporation of Valentino into the Puig portfolio. The agreement, which
will
come into force from February 1st , 2011, will represent the start of a long-term association in the
perfume business of two global players. The Valentino image has enormous potential for transfer to
the world of fragrances. This association will permit Puig to focus on fewer but stronger brands,
create
long-term projects and in this way continue to pursue the goal of becoming a relevant player with
ambitions to grow within the global perfumery, fashion and cosmetics sectors.
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NAME OF THE ISSUING DEPARTMENT OR DIVISION OF THE REPORT
About PUIG
Puig is a family company founded in 1914 in Barcelona, Spain. Over the last ten years Puig has
enjoyed solid growth as a beauty and fashion company. The company sells its products in more than
130 countries and has direct presence in 22 of them, employing 3,500 people worldwide.
The strengths of Puig lie in its ability to build brands through fashion (Puig owns the fashion houses
of Carolina Herrera, Nina Ricci and Paco Rabanne) and to translate the image of a brand into the
beauty arena, whether through its own brands or through licenses. One of the best-known brands is
Prada with whom Puig operates in a Joint Venture which holds the license for Prada’s beauty
products. Puig also holds beauty license agreements for other brands such as Comme des Garçons,
Adolfo Dominguez, celebrities like Antonio Banderas and Shakira and retail brand names such as
Mango, Zara and Massimo Dutti.
"At Puig, we are proud of our ability to grow faster than the industry through a strong emphasis on
creativity and innovation. This capacity has been demonstrated in our recent past, and remains our
aim for the future. We also hold strongly to our belief that people make the difference when given the
chance to make things happen. Passion, People, Performance is our motto."
Marc Puig, Chairman and CEO
Additional information is available on the web at www.puig.com
More Information:
Marta Sanz Esteve
VP Global Communication Fragrances & Corporate
Marta.sanzesteve@puig.fr
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NAME OF THE ISSUING DEPARTMENT OR DIVISION OF THE REPORT