Puig Targets €8 Billion in Annual Sales by 2032
Ahead of its first Capital Markets Day in Madrid, the Spanish beauty group has unveiled its “Vision 2032” and detailed its plans to grow its share of the global fragrance market.
Now in its third year, The Business of Beauty Global Forum kicked off its first day with conversations around how culture is shaping today’s beauty industry, featuring SpaceNK CEO Andy Lightfoot, Lip Bar founder Melissa Butler and more.

Hair tools have been thrust into the spotlight as brands try to create inclusive marketing campaigns that speak to the curly, coily and tight-textured consumers. But many are still falling short.

Though appropriation of Native art and traditions still exists in fashion, more brands are finding ways to ethically work with Native designers and communities.

With sustainability falling down the priority list for fashion executives in 2025, emerging designers are looking to meet demands for conscious consumerism — but face substantial challenges in an oversaturated market facing macroeconomic limitations. BoF sits down with Felita Harris, co-founder of non-profit RaiseFashion that provides financial, educational and community support for underrepresented designers focused on sustainability goals, to learn more.

Early data indicates Target and Walmart’s store traffic has declined since their DEI exit, while Costco’s has grown, signalling that we may be entering a new era of consumer boycotts.

Chief executive officer Hillary Super told workers in a recent memo that Victoria’s Secret will “ensure our global team is inclusive of a wide range of backgrounds, experiences and perspectives.”

The event was slated for May 2025 in Las Vegas and had confirmed speakers from Sephora, H&M and TikTok.

At a moment when attacks on DEI and immigrants have become widespread, streetwear brands founded on celebrating racial or ethnic identities are persevering.

Felita Harris, RaiseFashion’s executive director and co-founder, Rachel Scott, founder and creative director of Diotima, and Mercy Amankwe, senior director of brand marketing and partnerships at Standard International, joined BoF’s Shenel Wickramaratne at The Standard, East Village to discuss how to uphold inclusion, empower underrepresented talent and drive meaningful change amid industry-wide row backs on diversity, equity and inclusion commitments.

With the US political climate trending right, the Minneapolis-based company announced the move on Friday prompting calls for a boycott of its stores from labor advocacy group We Are Somebody and a Minneapolis city council member.

Soft skills like agility, intellectual curiosity and an ability to work across departments and categories will be crucial in 2025 — but true success will mean playing the long game.

A decade-plus of explosive gains for Black-owned brands has given way to a slowdown in everything from funding to representation to retail expansion — and the implications for beauty are far worse than loss of representation alone.
Ahead of its first Capital Markets Day in Madrid, the Spanish beauty group has unveiled its “Vision 2032” and detailed its plans to grow its share of the global fragrance market.
Private equity firms CVC Capital Partners and Cinven, along with Spanish beauty group Puig, are considering acquiring Parfums de Marly, the luxury fragrance brand owned by Advent International, two people familiar with the matter told Reuters.
The UK conglomerate raised its annual volume growth forecast on beauty, personal and home care demand, despite a lagging food sector and the impact of geopolitical conflict on costs.
The fashion editor and stylist is reuniting with longtime collaborator Alastair McKimm, chief creative officer of Wonderland parent Visual Talent Ltd.
New categories and brick-and-mortar expansion beyond North America are set to drive Aritzia’s quest to hit $10.5 billion CAD ($7.5 billion).
Sales in the Americas fell 70 to 75 percent.
The Italian label has continued to enjoy solid growth in China, defying a wider downturn in demand for European luxury. The June 11 presentation of its summer collection will be the latest in a series of travelling shows.
The German consumer goods maker marginally missed market expectations for third-quarter sales growth on Tuesday, with its key Nivea brand posting a third straight quarterly sales decline.