Spanish fashion and beauty group Puig, the parent company of Dries van Noten, Jean Paul Gaultier, Nina Ricci and Paco Rabanne, among others, is reportedly entering the stock market. The company is targeting an IPO in 2024 with an estimated valuation of € 8 billion, according to Europa Press.

According to a story published in the Spanish business and economic publication ‘Expansión,’ the company would have recruited Goldman Sachs and JP Morgan to supervise the IPO debut.

The newspaper also projects that the offering will represent 25 per cent to 49 per cent of the overall capital of the business. The Puig family is able to maintain control of the organisation while meeting the basic requirements set by the National Securities Market Commission (CNMV) for businesses that wish to trade on the stock market.

Puig changed its corporate structure to group all of its companies under Puig Brands SA, a public limited company, said the newspaper report. Puig SL was the original name of the parent firm, however according to Expansión, this type of company cannot be traded publicly.

Puig had a successful fiscal year in 2022. At that time, the business reported record sales of € 3.6 billion, an increase of 40 per cent from the previous year.