Fashion
Puig reports 79% jump in first-half profit as US tariffs drive early sales
By
Reuters
Published
September 9, 2025
Puig, the Spanish beauty group behind brands such as Rabanne and Jean Paul Gaultier, saw profits jump 79% to €275 million in H1 2024, driven by early U.S. shipments and price hikes ahead of higher tariffs.
Spanish beauty group Puig, the company behind global perfume brands such as Rabanne, Carolina Herrera, and Jean Paul Gaultier, reported on Tuesday that its first-half net profit surged 79% to €275 million ($322 million). The growth was attributed to a strong sales performance, partly driven by strategic stock movements ahead of the implementation of higher U.S. import tariffs.
Puig said the increase in profit was also supported by extraordinary gains linked to its stock market flotation last year.
Like many European fashion, cosmetics, and consumer goods brands, Puig mitigated the initial tariff impact by shipping large volumes of inventory to the U.S. earlier in the year. The company also passed on some of the higher costs to consumers through price increases.
The U.S. introduced 15% tariffs on most imported European Union goods under a new agreement with the EU in July. These duties are significantly higher—around ten times—than the average tariffs previously applied to imported EU beauty products before President Donald Trump‘s return to the White House.
The Barcelona-based group reported sales of €2.29 billion for the January–June period, representing an 8% year-on-year increase. That figure is roughly in line with Puig’s projected full-year growth expectations.
© Thomson Reuters 2025 All rights reserved.
Published
December 18, 2025
Bulgari has named Laura Burdese, a 10-year veteran of LVMH, to be the famed jewellery brand’s CEO, though her appointment is only effective from July 1, 2026. Burdese succeeds Jean-Christophe Babin and will report to Stéphane Bianchi.
“I am very proud of this smooth transition from one great leader to another. For the past three years, Laura and Jean- Christophe have worked side by side to sustain and orchestrate the brand elevation of the iconic Roman jewellery Maison. The nomination of Laura, while opening a new chapter for Bulgari, is a tribute to her strong contribution and accomplishments,” said Stéphane Bianchi, LVMH group managing director and CEO of LVMH watches and jewellery, in a release.
Burdese began her career in the LVMH Group as CEO for Acqua di Parma, before joining Bulgari in 2022 as chief marketing officer. After leading the brand transformation and elevation over recent years, she was promoted to deputy CEO in July 2024.
“Jean-Christophe has shaped the success of TAG Heuer and Bulgari while creating unique paths within their respective industries. I am confident that in his new missions, he will bring the same energy and keep on supporting LVMH and its maisons thanks to his extraordinary vision,” Bianchi added in a release.
Babin will step down as CEO of Bulgari after more than 25 years in the giant luxury group, first at TAG Heuer and then at Bulgari. Under his leadership, the maison underwent a profound transformation, reclaiming its unique position as the quintessential Roman high jeweller. He also spearheaded Bulgari’s advancements in watchmaking and expanded Bulgari into the luxury hospitality industry with new hotels in major global cities.
Babin also demonstrated a strong commitment to Italian craftsmanship, evidenced by the inauguration of a new factory extension in Valenza and the launch of the Scuola Bulgari. Babin will continue to serve as chairman of the Bulgari Board, CEO of the Bulgari Hotel Business Unit, and president of the Bulgari Foundation. He will also report to Bianchi.
Burdese started her career in the beauty industry, holding brand management positions at Beiersdorf and L’Oréal. In 1999, she joined the Swatch Group as marketing director Italy, before doing management stints at Klein Watch and Jewelry and Swatch Group’s Italian subsidiary. In addition to this role in 2012, she was named president and CEO of Calvin Klein Watch & Jewelry Co. Ltd.
In October 2016, she joined LVMH as president and CEO of Acqua di Parma. In 2022, Burdese was appointed vice president of marketing and communications at Bulgari, before being appointed deputy CEO in 2024. She holds a degree in International Economics from the University of Trieste and a Master’s degree in Marketing and Communication.
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The European Parliament has approved new legislation to phase out imports of Russian gas, aiming to safeguard the bloc’s energy security from what lawmakers describe as systematic weaponisation by the Russian Federation.
The European Parliament has approved landmark legislation to phase out Russian gas imports, banning spot-market LNG from early 2026 and ending pipeline gas imports by September 30, 2027.
The law advances phase-out timelines, introduces penalties for breaches, and tightens checks to prevent circumvention.
MEPs also secured a commitment for proposed legislation to ban Russian oil imports by late-2027.
Under the new rules, spot-market Russian liquefied natural gas (LNG) will be banned from the EU once the regulation enters into force in early 2026. Imports of Russian pipeline gas will be phased out by September 30, 2027. During negotiations, EU co-legislators agreed to bring forward the phase-out timelines for most existing import contracts.
The regulation also introduces penalties, to be enforced by member states, against operators found to be in breach of the new requirements, the European Parliament said in a release.
Alongside gas measures, Members of the European Parliament (MEPs) secured a political commitment from the European Commission to propose legislation banning all imports of Russian oil. The Commission is expected to present this proposal in early 2026, with the aim of ensuring an effective oil import ban as soon as possible and no later than late-2027. MEPs also tightened the conditions under which any temporary suspension of the ban could be granted, limiting such exemptions to genuine energy security emergencies.
To prevent circumvention, operators will be required to provide customs authorities with more detailed and robust evidence on the country of production of gas prior to import or storage in the EU.
“This is historic: the EU is taking a giant step towards a new era free of Russian gas and oil. Russia can never again use fossil fuel exports as a weapon against Europe. Now, we must act without delay to implement this agreement and turn our attention to oil imports, where we will hold the European Commission to its commitment to make a proposal early in 2026,” said lead MEP for the industry, research and energy committee (ITRE), Ville Niinisto (Greens/EFA, Finland)
“We have strengthened the European Commission’s initial proposal by introducing a pathway towards a ban on oil and its products, ending long-term contracts sooner than originally proposed, and securing penalties for non-compliance,” said Inese Vaidere (EPP, Latvia), lead MEP for the International Trade Committee.
The legislation, already agreed with the Council, was adopted by the European Parliament with 500 votes in favour, 120 against, and 32 abstentions. It now requires formal endorsement by the Council before publication in the Official Journal.
Fibre2Fashion News Desk (HU)
Published
December 18, 2025
In February, the French low-impact clothing brand Faguo will launch several thousand T-shirts and a sweatshirt produced by Losanje, a specialist in the industrialisation of upcycling for clothing and accessories.
For this series, Faguo has opted to produce Lugny T-shirts, featuring the brand’s tree logo on the chest, along with the Dirac hooded sweatshirt. The former, available in blue and dark green, is priced at €60, while the latter, in blue, costs €105. The pieces were made from garments collected at sorting centres in France and across Europe, then cut and assembled by Faguo’s teams.
“We felt it was important to choose our iconic pieces for this collaboration, to help shift perceptions of upcycling,” Anaïs Barry, Losanje’s marketing and communications director, tells FashionNetwork.com. “Our aim is always to dress people with the smallest possible environmental impact. With upcycling, we reduce that impact by a further 90% compared with a standard Faguo garment. But we’re also counting on the pieces appealing in their own right as products.”
For Losanje, the stakes are high. The French company, whose aim is to prove that upcycling can be an industrial alternative to producing new clothes, has delivered what could be, in Europe and worldwide, the first 100% upcycled collection produced in several thousand unique pieces, according to Simon Peyronnaud, president and co-founder of Losanje.
“We’ve already released drops with brands such as Miu Miu and Marine Serre, collaborations that involved dozens or hundreds of pieces,” explains the executive. “This time, we’re looking at genuine repeatability. It’s been a highly instructive collaboration, and one we have high expectations for, to demonstrate that we can source existing materials here at home rather than from cotton fields.”
Losanje claims to have reused over 320 tonnes of textile products in five years via upcycling, through collaborations with the SNCF, La Poste, the Comité Paris 2024 and Roland-Garros, among others. To support its growth, the company recently inaugurated a new factory in Nevers, in the Nièvre department.
“We’re moving from a 700-square-metre industrial workshop to a real 2,500-square-metre factory, purpose-built to take us to the next level,” explains Simon Peyronnaud, whose company currently employs 25 people. He hints at several ongoing projects with brands and groups keen to invest in an upcycled offering.
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