Beiersdorf, L’Oréal, Puig and Weleda

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Puig said to be prepping for an IPO

Spanish fragrance and cosmetics company Puig is rumoured to be planning to become public in 2024 with an estimated valuation of €8bn.

According to Spanish newspaper Expansión, ​the Barcelona-based company has hired Goldman Sachs and JP Morgan as global coordinators to prepare for its stock market debut.

It noted that four months ago, Puig had reorganised its corporate structure to consolidate all its businesses under a public limited company (Puig Brands SA), as the original parent company Puig SL could not be publicly traded.

The company, which owns Charlotte Tilbury and Fragrance brands like Jean Paul Gaultier and Carolina Herrera, recorded its best ever results in history for the second consecutive year in 2022. It closed last year with a net profit of €400m – up by 71% on 2021, with net revenues of €3.62bn – a 40% increase.

Beiersdorf reduces CO2e footprint of deodorant aerosol cans

As part of its sustainability strategy, Beiersdorf has announced that all its deodorant cans in the European assortment of NIVEA, 8X4, Hidrofugal, and Hansaplast will contain at least 50% recycled aluminium and will weigh 11.6% less thanks to material reduction.

The German company said that this will reduce CO2e​ emissions in the aerosol can value chain by around 58%, with an overall reduction of around 30 tonnes of CO2e​ per year.

Isabell Niggemann, Global Procurement Manager Sustainable Packaging said: “This brings us closer to reaching our ambitious climate target that we have set with our CARE BEYOND SKIN Sustainability Agenda: The absolute reduction of our CO2e​ emissions across Scope 1, 2 and 3 by 30 percent by 2025.”

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