Puig names Vincent Baland as Managing Director of Travel Retail Europe
This move positions Puig to capitalize on the evolving travel retail landscape in Europe, catering to an increasingly discerning and travel-savvy consumer base.
EUROPE – Puig has nominated Vincent Baland as the new Managing Director of Travel Retail Europe, marking a significant talent acquisition from Shiseido to strengthen its presence in the European travel retail market.
Baland, who brings over two decades of global experience with Shiseido, steps into this strategic role at Puig’s Barcelona headquarters, overseeing the travel retail channel across Europe.
At Puig, Baland will be responsible for expanding travel retail operations in Europe, a key channel for fragrance and beauty sales, leveraging his deep expertise in market development, partnership coordination, and product deployment in airport and duty-free environments.
Baland’s career highlights include starting with LVMH’s Christian Dior perfume division, followed by a move to Shiseido in 2003, where he held various leadership roles in sales and distribution across Latin America, Europe, and the Asia-Pacific region.
His extensive experience encompasses managing major accounts and markets, including the UK, Ireland, Switzerland, Portugal, and Singapore.
Most recently, he served as Shiseido’s Vice President of Travel Retail for the EMEA region and the Americas, spearheading growth initiatives with brands such as Tory Burch, Issey Miyake, Narciso Rodriguez, Zadig&Voltaire, and Drunk Elephant.
Vincent Baland’s appointment also follows the recent elevation of Jose Manuel Albesa to Puig’s deputy CEO, indicating Puig’s strategic commitment to strengthening leadership in travel retail as a vital market segment.
This move positions Puig to capitalize on the evolving travel retail landscape in Europe, catering to an increasingly discerning and travel-savvy consumer base with a portfolio of high-profile luxury fragrance and beauty brands.
Puig H1 FY25 financial highlights
Puig recently outpaced the beauty market with a strong performance in the first half of 2025, posting net revenues of €2.23 billion(USD 2.61 billion).
Despite a negative currency impact of -1.7%, the company’s adjusted net profit reached €247 million(USD 276.42 million), representing a 10.8% margin.
Meanwhile, the reported net profit surged 78.8% year-over-year to €275 million(USD 320.32 million).
The gross profit margin remained steady at 75.8%, with operating profit reaching €332 million(USD 388 million) and an operating margin of 14.5%.
Adjusted EBITDA rose 8.6% to €445 million(USD 507.85 million), improving the margin by approximately 50 basis points to 19.4%, driven by revenue growth and cost management.
Makeup showed a positive return to growth, contributing €339 million (USD 352.79 million), with a strong second quarter marked by double-digit growth.
Skincare also performed well, with €276 million (USD 321.32 million) in revenue, an 8.6% increase, led by Charlotte Tilbury skincare and Uriage suncare.
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.
