THE WHAT? Just two months after its IPO, Puig is set to join Spain’s IBEX 35 index. The fragrance firm will replace Melia Hotels on the blue-chip equities index; shares in the manufacturer of Carolina Herrera and Rabanne perfumes have risen 3 percent since its debut.

THE DETAILS According to a report published by Reuters, the company is now valued at €14 billion, with shares trading at €25.35 a-piece.

THE WHY? Reuters reveals, quoting a note from JP Morgan, that Puig is expected to benefit from strong demand for luxury scents and shares could hit €32 by 2025’s close; indeed net sales rose 10.1 percent yoy in Q1 2024.