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Puig reported record third-quarter 2026 net revenue of €1.4 billion, up 5.6% like for like, with fragrances and make-up supporting growth. For the first nine months, like-for-like revenue rose 4.8% to €3.7 billion; make-up was the fastest-growing business segment, while premium skin care remained soft.
Puig reported record third-quarter net revenue of €1.4 billion, up 5.6% like for like, as fragrance and make-up supported growth at the Spanish beauty and fashion group. For the first nine months of 2026, like-for-like revenue increased 4.8% to €3.7 billion, with the company reporting growth across all regions and business units.
The strongest segment growth over the nine-month period came from make-up, which rose 12% to €628 million. The division represents 17% of Puig’s revenue and includes Charlotte Tilbury. Puig said niche fragrances, dermocosmetics and make-up were among the areas with double-digit growth, alongside its Asia-Pacific region.
Fragrance and fashion remained the largest business area, generating €2.7 billion, or 72% of total revenue, in the first nine months. Revenue in the division grew 3.8%. Puig highlighted Carolina Herrera’s performance and said new launches, including Rabanne’s 1 Million Black and Jean Paul Gaultier’s La Favorite, had early momentum.
Skin care revenue increased 1.3% to €414 million, accounting for 11% of group revenue. Puig said dermocosmetics continued to achieve double-digit growth, led by Uriage, while premium skin care remained soft, continuing a trend from earlier quarters. The company also said positive currency movements added 1.7% to Q3 revenue, largely because of the stronger US dollar; currencies had weighed on results in the first half.
Make-up Outpaces Larger Fragrance Division
The figures show that Puig’s growth is being supported by both its established fragrance business and faster expansion in make-up. Although make-up is a smaller part of the portfolio, its 12% nine-month increase outpaced the 3.8% growth in fragrance and fashion, making it an important contributor to the group’s overall performance.
The mix also points to areas where momentum is uneven. Dermocosmetics posted double-digit growth, but premium skin care remained weak. For investors, employees and brand partners, the results offer a current view of how the portfolio is performing across categories and regions, while the company’s stated outlook remains dependent on demand and other market conditions.
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Growth Across Puig’s 2026 Portfolio
Puig’s latest figures follow a first-half report in which the company said revenue had increased 4.4%, supported by fragrance demand. The nine-month like-for-like growth rate of 4.8% reflects the period through the end of Q3, while the Q3 rate of 5.6% refers to the quarter alone. Like-for-like figures are intended to compare performance on a consistent basis; they should not be confused with the reported euro revenue totals.
Puig has also been expanding its position in skin care. The source report said the company fully acquired Isdin last month, describing dermocosmetics as a strategic long-term focus. The acquisition adds to Puig’s presence in the category, where Uriage has been a growth driver, but the reported figures do not specify how much Isdin contributed to revenue during the period.
“I am pleased with our strong and consistent delivery in the first nine months of 2026, with growth of 4.8%, alongside a record third quarter, up 5.6%.”
— Jose Manuel Albesa, Puig CEO
Currency and Category Risks Remain
The report does not provide full reported revenue growth alongside the like-for-like rates, nor does it break down the exact contribution from each brand or product launch. It also does not quantify how Isdin’s acquisition affected the nine-month totals. The 1.7% currency benefit applies to Q3 revenue, but the source does not give a detailed currency breakdown beyond citing the US dollar.
Puig’s outlook is described by the CEO as being in line with expectations, but the supplied report does not state a specific full-year revenue or growth target. Demand trends, currency movements and the performance of softer premium skin care remain factors to watch.
Full-Year Results Will Test Momentum
The next key measure will be Puig’s full-year 2026 results, which will show whether the Q3 acceleration continued through the final quarter. Investors and industry observers will be watching for updates on fragrance and make-up demand, the progress of dermocosmetics, and whether premium skin care improves.
Further company reporting may also clarify the contribution from Isdin and the effect of currency movements on reported revenue. Puig has said its nine-month performance is in line with its outlook for the year; the source report does not provide a revised forecast or a date for the full-year results.
Key Questions
How much revenue did Puig report for Q3 2026?
Puig reported €1.4 billion in third-quarter net revenue, with like-for-like revenue up 5.6% from the comparable period.
Which Puig business grew fastest?
Make-up was the fastest-growing segment in the first nine months of 2026, rising 12% to €628 million. The division includes Charlotte Tilbury.
How did Puig’s fragrance business perform?
Fragrance and fashion generated €2.7 billion in the first nine months, accounting for 72% of total revenue. The division’s revenue grew 3.8% over that period.
What did Puig report about skin care?
Skin care revenue rose 1.3% to €414 million. Dermocosmetics recorded double-digit growth, led by Uriage, while premium skin care remained soft.
What remains unknown about the results?
The report does not detail each brand’s revenue contribution, Isdin’s specific effect on the period, or a numerical full-year forecast. Puig’s full-year results should provide further information.
Source: rss
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