Spanish luxury group PUIG posts 22% turnover increase and prepares to bid for Gaultier

Spanish luxury conglomerate PUIG reported this week a 22% increase in its turnover for 2010, compared to 2009, to a level of 1,2 billion euros. Operating profits have doubled to a total of 189 million euros. Sales worlwide at Puig grew by 30%, accross all its business units. Puig is also the seventh largest fragrance player worldwide with pillar brands such as Nina Ricci, Paco Rabanne, Valentino, Prada.

The fashion division of Puig includes Carolina Herrera, Nina Ricci, Paco Rabanne, Manish Arora. Earlier this week, international media has been putting Puig at the top of the contenders list for the Jean Paul Gaultier fashion house, the majority stake package having been put up on sales by Hermes at the end of March.