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Spanish cosmetics group Puig has hired investment banks Goldman Sachs and JPMorgan as advisers for a possible stock market listing, a source close to the matter told Reuters.
The family-owned company, which owns brands such as Carolina Herrera, Paco Rabanne and Charlotte Tilbury, could be worth as much as €8 billion ($8.6 billion), according to a report by the Spanish newspaper Expansion earlier on Thursday.
Puig and JPMorgan declined to comment. Goldman Sachs did not immediately respond to a request for comment.
The news comes as the market for initial public offerings (IPO) picks up following a prolonged drought caused by tightening monetary policy after years of cheap borrowing and Russia’s invasion of Ukraine.
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Improving market sentiment towards new stocks, coupled with greater visibility on interest rates, have encouraged some European businesses in recent months to go public.
Hotelbeds, a Spain-based company which sells hotel rooms to wholesale customers such as travel agencies and tour operators, is also said to be mulling an IPO.
Barcelona-based Puig saw sales jump 40 percent to €3.6 billion last year, benefiting from strong demand following the Covid-19 pandemic. The company said in March it expected to reach €4.5 billion in sales by 2025.
By Andres Gonzalez, Inti Landauro, Pablo Mayo Cerqueiro and Corina Rodriguez; Editors: Elisa Martinuzzi and Mark Potter
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