Puig aims for valuation near $15B in IPO, WSJ reports

Spanish fragrance, skincare and fashion conglomerate Puig, which is behind brands such as Jean Paul Gaultier and Rabanne, is targeting a valuation of roughly $15B in a planned IPO in Spain, people familiar with the matter told The Wall Street Journal’s Ben Dummett and Corrie Driebusch. Puig announced plans for an initial public offering earlier this month, but didn’t give a target valuation or say how much stock would be sold, noted The Wall Street Journal, which previously reported that Puig and existing investors plan to raise $3.25B or more in what would be the largest IPO globally so far this year. Publicly traded Beauty & Personal Care product makers include Estee Lauder (EL), LVMH (LVMUY), e.l.f. Beauty (ELF), Oddity (ODD), L’Oreal (LRLCY), Coty (COTY), Procter & Gamble (PG) and Unilever (UL).