Puig is the fifth largest company in the global fragrance market with a stellar stable of brands including Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, Penhaligon’s and L’Artisan Parfumeur.
But the Spanish multinational is also the third largest player in the dermocosmetic market in Europe after L’Oréal and Pierre Fabre. The company restructured its business into three major divisions in late 2020 – fragrance, colour cosmetics and a new Derma division for skincare.
Puig owns Uriage, the French thermal spring water brand, and a majority stake in Apivita, the Greek skincare brand based on bee products. The company also owns 50 per cent of ISDIN, an anti-ageing skincare brand.
The global dermocosmetic market is on fire and is currently worth over US$51 billion according to Allied Market Research. L’Oréal’s La Roche-Posay was named fastest growing skincare brand in the world last year by NielsenIQ.
Puig reported total revenues of 3.62 billlion euros (AUD$5.9 billion) in 2022 – far exceeding its target of achieving 3 billion euros (AUD$4.9 billion) in sales by 2023 . The Derma division enjoyed double-digit growth of 20 per cent, representing 9 per cent of sales.
The multinational has named Marc Toulemonde as the new president of its Derma division. He succeeds Herve Lesieur, who has helmed Uriage for 12 years and Apivita since Puig acquired a majority stake in 2017.
Toulemonde has considerable chops in the skincare industry and worked for L’Oréal for 21 years. He was Division Group President for the multinational’s Active Cosmetics division in the US for six years, which was re-branded L’Oréal Dermatological Beauty in February this year and includes the La Roche-Posay, Vichy and SkinCeuticals brands. Most recently, he served as L’Oréal USA’s Chief Digital and Marketing Officer and oversaw digital acceleration across brands.
Puig’s Derma division has experienced remarkable growth, solidifying its position as a major player in the skin care market for products available in pharmacies and recommended by medical professionals reveals the multinational. Uriage and ISDIN both enjoy top 10 rankings across European pharmacies.
Toulemonde will be based in Paris and report to Marc Puig, president and CEO of Puig. He will also be a member of Puig’s executive committee and focus on developing and expanding the skincare category, a crucial pillar of Puig’s growth strategy.
Toulemonde’s extensive experience and expertise in skin care, as well as his deep knowledge of the digital business and the important US market, will be a major asset for the development of our dermocosmetic activities, noted Marc Puig
Last year Puig acquired a majority stake in cult fragrance brand Byredo. In 2021, the Spanish conglomerate beat off major competitors to acquire a majority stake in Charlotte Tilbury, one of the world’s fastest growing makeup brands, which marked its first major acquisition in the colour cosmetics space.
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