Puig sells more makeup and perfume, yet feels the effects of the war in Iran

Puig saw revenue rise, as beauty brands are benefiting from the “lipstick effect,” in which consumers treat themselves to accessible luxury like makeup during uncertain times. However, the conflict in the Middle East is also having a negative impact.

“Solid first half”

The Spanish perfume and fashion group posted a 2.4% increase in revenue to 2.354 billion euros in the first half of 2026, but saw net profit decline by 4.4% to 263 million euros. On a comparable basis, revenue rose by 4.4%. José Manuel Albesa, CEO of Puig, emphasizes that the company “delivered a solid first half of 2026, with market share gains across all categories and regions.”