MADRID, May 4 — Shares in Spanish fashion and beauty group Puig, owner of the iconic Nina Ricci, Paco Rabanne and Jean-Paul Gaultier labels, yesterday at its issue price on its trading debut in one of Europe’s largest initial public offering of the year.

For the family-owned Puig Group, which has expanded rapidly into luxury goods, going public is a big step in its 110-year history which will allow it to compete with the giants of the sector such as Estee Lauder, Hermes, Kering and LVMH.