Puig to close one of its Spanish factories in 2023
Puig, the Spanish fragrance, cosmetics and fashion giant, is to cease production at its factory in Besòs, Barcelona, in 2023 and will concentrate production at its other two plants, located in Vacarisses, also in Barcelona, and Alcalá de Henares.
According to the Spanish business newspaper Expansión, the move is in line with the group's strategy of "growing and boosting innovation." The closure of the Besòs plant, the oldest of the company and active since 1968, will affect about 400 employees. The staff will all be relocated, as agreed by the company with the trade unions on Friday, November 18.
According to the newspaper, the Vacarisses plant, which focuses on manufacturing skin care products and perfumery accessories, will take over most of the Besòs production. The Alcalá de Henares plant, on the other hand, specialises in fragrances.
Meanwhile, Puig is currently working on expanding its headquarters in L'Hospitalet, Barcelona, and will invest 15 million euros in designing this new workspace. A new building is being constructed next to the company's general facilities in this location, where the group will relocate many of the employees affected by the closure of the Barcelona factory, members of the R&D, buying and supply chain teams.
This 21-storey building is being developed by Colonial and Inmo, the real estate subsidiary of Exea, the Puig family's holding company. Exea is to share the new building with Puig.
Puig was founded in 1914 and boasts a wide portfolio of fashion and beauty brands, such as Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten, Nina Ricci, Penhaligon's, L'Artisan Parfumeur, Charlotte Tilbury and the recently acquired Byredo, Loto del Sur and Kama Ayurveda. It also holds licenses for Christian Louboutin and Comme des Garçons Parfums and the lifestyle fragrances of Antonio Banderas, Adolfo Domínguez and Benetton.
In fiscal year 2021, the company increased its turnover by 27% compared to 2019 and reached €2.59 billion. Puig is present in 150 countries, has offices in 29 of them and expects to achieve sales of €3 billion and Ebitda of €500 million by the end of 2022.
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