Puig appears to be leaning towards the Madrid Stock Exchange for its stock market debut

In its journey to the stock market, Puig, the luxury fashion and beauty group, has reportedly explored various options, including not only the Madrid Stock Exchange but also the New York Stock Exchange or the Paris Stock Exchange. Ultimately, the Spanish capital seems to be the chosen destination.

This information was reported by the newspaper El Economista, which said that the company, owner of brands like Jean Paul Gaultier, Carolina Herrera and Nina Ricci, is preparing its stock market debut for May.

Among the reasons explaining why Puig (and the placement banks) have considered options such as listing on the New York Stock Exchange or the Paris Stock Exchange is the fact that the company seeks to obtain the maximum valuation and thus ensure its future trajectory.

Although Spain accounted for only 7% of sales in 2022, in this market, the Catalan group does not have a direct competitor operating in the stock market, unlike what would happen in the United States (with the example of Estée Lauder) or France, where luxury giants such as LVMH, Kering, or L’Oréal operate, with market capitalizations reaching 409,000 million euros in the case of LVMH and 235,000 million euros in the case of L’Oréal.

According to the aforementioned media outlet and based on the group’s latest results, Puig’s valuation in the stock market, taking into account the European context in the luxury industry, would be around 8,400 million euros (although in some cases it has been estimated at up to 15,000 million euros).

The family-owned company will be able to place between 25% and 49% of its capital on the market and, based on the forecasts of its capitalization, it could rank 18th on the Ibex 35. If it debuts on the Madrid Stock Exchange, it will be the first Spanish company in the luxury fashion and beauty sector to debut on the Spanish stock exchange.