-
Puig Group Raises €2.6 Billion in IPO
Puig Group, a Spanish beauty conglomerate that owns fragrance brands Paco Rabanne, Charlotte Tilbury, and Carolina Herrera, has gone public. Puig's IPO was very successful, raising €2.6 billion. The company plans to use the money raised in the IPO to grow its business. This is a positive development for Puig, allowing it to invest in further expansion. The listing price was €24.50 per share, hitting the top end of the range, giving the company a market capitalization of €13.9 billion. Following the listing, The Puig family will hold over 90 percent of voting rights.
-
Estée Lauder Reports Lift in Net Sales for Q3
Estée Lauder Companies reported a long-awaited lift in net sales, with organic sales increasing 6% Year-over-year to $3.94 billion in the third quarter that ended on March 31st, with a strong performance in the EMEA region (Europe, the Middle East, and Africa) and a travel retail rebound in Asia. The increase was driven by growth in the skincare sector, specifically LaMer and The Ordinary. Despite that, the company lowered its full-year forecast as soft sales in China, among other challenges, remain. China is a crucial market that accounts for roughly one-third of the company's sales; however, sales in China have grown in the low single digits. To address this, Estée Lauder is investing in China to improve its operations and marketing, including a manufacturing facility in Japan to streamline its regional supply chain.
-
Department Store Nordstrom May Be Going Private
High-end department store chain Nordstrom is once again considering going private. Buyout firm Sycamore Partners is interested in acquiring Nordstrom, thus effectively delisting it from the stock market. The Nordstrom family (who own 9.5% of the company) has previously explored going private, turning down a 2018 offer of $8.4 billion. The announcement caused the stock price to react positively, rising 6% to $19.90 in Thursday afternoon trading. Like many department stores in the US, Nordstrom has been struggling lately with the pronounced consumer pullback in spending caused by inflation and high-interest rates.
-
Space NK Explores Potential Sale
Manzanita Capital, the family office that has owned Space NK for over 20 years, is exploring a sale. The company has not yet made a final decision. Space NK's value is between $374 million and $500 million. It was founded in 1993 and operates 76 stores across the UK, specializing in premium beauty products alongside indie brands. Manzanita Capital has hired investment bank Raymond James to manage the potential sale process.
-
Luxury Hotel Brand JW Marriott to Launch in Greece in 2025
JW Marriott is entering Greece with its first property in Chania, JW Marriott Crete Resort & Spa. The new JW Marriott will be located on the coast of Crete, spanning 100 acres along the Mediterranean coastline. JW Marriott Crete Resort & Spa will emphasize spa services and holistic well-being. The spot is a popular jumping-off point for excursions around Crete. Greece continues to be an increasingly popular destination for luxury travelers.
Subscribe to receive latest insights
Let us partner for success.
Contact us and see how we can help your experience transformation goals.