PUIG REVAMPS SECTORS FOR FASHION AND BEAUTY
PARIS — Puig, the Barcelona-based fashion conglomerate, said Tuesday it has restructured its beauty and fashion activities due to heavy growth over the last three years.
Puig, which controls Nina Ricci, Paco Rabanne and Carolina Herrera, said it had reorganized and formed a single operating structure, to be called Puig Beauty and Fashion. Under the new structure, one executive has been assigned to oversee each of the firm’s three main divisions: fragrance and personal care, prestige beauty brands and fashion. Previously, the beauty and fashion business were managed by brand.
Javier Cano, president of Puig, will continue to preside over all Puig activities as president of Puig Beauty and Fashion. Carlos Iniesta has been named president of the fragrance and personal care division; Manuel Puig is now president of the prestige beauty brands division, including Ricci, Rabanne and Herrera-branded products; and Marc Puig has been tapped as president of the fashion unit. The executives will be based in Barcelona.
Puig has also created Puig France, an operating division here that will control activities at Ricci and Rabanne. Chrystel Abadie-Truchet will oversee the perfume and beauty division. Andrea Pinto has been appointed president of Ricci, while Mariano Puig will be in charge of Rabanne.
Meanwhile, Puig said revenue in 2000 exceeded $817.8 million, but did not give a breakdown of figures.