Who are the Puigs, the family behind Europe’s biggest IPO of the year?

Spanish multinational corporation Poochdedicated to the production and sale of fashion, cosmetics and perfume products, debuted last Friday, May 3, on the Spanish Stock Exchange, resulting in largest retail outlet in Spain since 2015 and the largest in Europe this year. A company that started with a base price of 24.5 euros per share and market capitalization 13,920 million euros, It debuted on the Spanish stock market with an increase of 8.2%, reaching 26.5 euros per share.

Luxury giant, owner of brands such as Paco RabanneJean Paul Gaultier, Prada, Valentino, Carolina Herrera or Comm des Garçons, now intends to pave the way for the complex Asian marketa geographical area with great financial and stock potential.

The Puig family is well known in the Spanish financial markets. In 1922, Puig launched the first permanent lipstick produced in Spain, “Milady”, which began positioning it in the cosmetics market and then expanded into the fashion and perfume markets. “A few years ago third generation of the Puig family (constituting the core of the company’s shareholders) supported the mission adopt previous generation and continue to develop the company and its brands, while maintaining the values ​​that guided Puig for 110 years so that one day they can pass the business on to the next generation,” the company says in justifying its IPO.

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After unveiling, this is the third generation of the family will retain a 72% stake in the firm, worth just over 10 billion euros.. Thus, day by day, this third generation of Puig has slipped into the ranking of the richest in the world. At the beginning of the year in special The richest in Spain According to El Mundo newspaper, the Puig family’s wealth was estimated at approximately 2.3 billion euros. The family is currently divided into four family branches: Puig Rocha, Puig Guas, Puig Alsina (children of Enrique Puig) and Puig Alsina (children of José Maria Puig). Since 2004, the transnational company has been headed by Marc Puig.

The Puig family also has significant presence in other sectors of the Spanish financial marketas is the case with your investments in Colonial property. The family owns 7.375% of SOCIMI, making them the third-largest shareholders after Qatar’s sovereign wealth fund and Mexican investor Carlos Fernandez. This move towards Colonial began in February 2022, when the Puigs acquired a 5.3% stake through Trudonba XXI, which is now part of Exea Inversiones Inmobiliarias, a Swiss firm specialized in the Spanish real estate sector.

This financial investment diversification strategy also echoes the figure of Amancio Ortega, founder of Inditex, although Inditex’s market valuations are significantly higher than those of Puig and Colonial. However, participation in Colonial represents the approximate additional value of the Puig estate is 220 million euros. In Colonial they share shares with CriteriaCaixa, which owns just over 3% of the capital. In addition, CriteriaCaixa showed its support for Puig by acquiring 3% of its shares for €425 million in a recent public offering.