Puig Named Former L’Oreal USA CDMO the President of its Derma Division

Puig, the Spain-based beauty giant, appointed Marc Toulemonde as its derma division president, effective from June 1. Marc Toulemonde worked for L’Oréal for over 21 years with latestthe serving as chief digital and marketing officer of L’Oréal USA.

---

Starting on June 1, Marc Toulemonde will assume the role of derma division president at Puig, a major beauty company based in Spain. Toulemonde has over 21 years of experience at L'Oréal, where he most recently served as the chief digital and marketing officer for L'Oréal USA.

In his new role, Toulemonde will take over from Hervé Lesieur, who previously held leadership positions at Uriage, Apivita, and Puig's dermatological activity. Lesieur is set to leave the company at the end of this year. Toulemonde will report to Puig's chairman and CEO, Marc Puig, and will serve on the group's executive committee.

The Spanish beauty company, Puig, is reported currently undergoing a corporate restructuring that involves consolidating all its businesses under Puig Brands SA. This move may potentially lead to an IPO for Puig.

In 2022, Puig achieved a new sales record, generating 3.62 billion euros ($4 billion) in revenue and a net profit of 400 million euros ($441.8 million). Its fashion and fragrance division contributed 74% to the total sales. The company aims to reach a revenue target of 4.5 billion euros ($4.97 billion) by 2025.

Puig's three-year plan, which was unveiled in March 2021, aimed to achieve sales of 3 billion euros ($3.24 billion) in 2023 and 4.5 billion euros ($4.85 billion) in 2025. This meant doubling the sales figures of 2020 in three years and tripling them in five years. Thanks to its growth over the past two years, the company has achieved its goal of doubling its net revenues from 2020 one year ahead of schedule, putting it in a strong position to reach the target of 4.5 billion euros ($4.85 billion) in revenues by 2025.