Dive Brief:
- Puig will fully acquire cosmetics brand Charlotte Tilbury Limited by 2031, according to a Wednesday press release.
- The news is part of a renewed strategic partnership between the two companies, which will extend until the end of 2030 and allow Charlotte Tilbury Limited to retain a minority stake in its beauty brand while Puig progressively assumes full ownership, per the release.
- Puig acquired a majority stake in Charlotte Tilbury Limited in 2020, and said in Wednesday’s release that the brand “has more than tripled its net revenue” since then.
Dive Insight:
Spain-based Puig has an extensive stable of owned, majority-owned and licensed fashion and beauty brands including Rabanne, Carolina Herrera, Dries Van Noten, Nina Ricci and Jean Paul Gaultier. The company’s May IPO on the Spanish Stock Exchanges was followed by a 27% reported profit drop in its first earnings after listing, which the company attributed to “one-off IPO costs, M&A expenses and other adjustments.”
The company said in Wednesday’s release that Charlotte Tilbury Limited is the top-ranked makeup brand in the U.K. and the top-ranked beauty brand “globally for influencer advocacy despite its highly selective distribution.” Puig added both companies are committed to continuing to growing the beauty brand moving forward.
“It is a privilege to continue our strong collaboration with Charlotte and her team,” Marc Puig, chairman and CEO of Puig, said in the release. “Charlotte has a unique, pioneering vision, differentiated from other makeup artist brands, and was already redefining the future of makeup and skincare when we first started to work together in 2020. We have achieved so much since then, and it is with great pleasure that we announce the extension of our partnership.”
Charlotte Tilbury, president, chairman, chief creative officer and founder of her namesake brand, added in the release that the partnership with Puig has been an important part of shaping her brand’s success.
“I am fully convinced of the value and potential that is still to be created and captured in the upcoming years by Charlotte Tilbury Limited,” Tilbury said. “Continuing this collaboration with my team and Puig feels like a natural progression, driven by the same innovation, vision and ambition that have defined this iconic brand over the years. This extended partnership is a significant step forward, enabling us to further grow and solidify the brand’s position as a leader in the world of beauty.”