Five years after acquiring a majority stake in Charlotte Tilburyâs eponymous cosmetics company, the Spanish fashion and beauty conglomerate Puig announced on Tuesday that it will extend their partnership to 2030. Tilbury will retain a minority stake, with Puig to assume full ownership of the brand in early 2031.
âIn 2020, we established a partnership that has been pivotal in shaping our success,â Tilbury said in a statement, calling the extension âa significant step forwardâ in solidifying the future of her namesake business.
Chief executive and chairman Marc Puig hailed Tilburyâs âunique, pioneering vision differentiated from other makeup artist brands.â The UK-based makeup label has âmore than tripledâ net revenue since Puig acquired a majority stake in 2020, according to the Spanish company. At the time, sources valued Tilburyâs business at over £1 billion ($1.2 billion).
Puigâs beauty portfolio includes fragrance brands like Byredo, Penhaligonâs, and LâArtisan Perfumeur, as well as cosmetic licenses for Christian Louboutin and Prada. It grew significantly with majority stake acquisitions in Charlotte Tilbury in 2020, and in the German premium skincare brand Dr. Barbara Sturm in early 2024.
Puig reported net revenues of â¬4.3 billion ($4.5 billion) in 2023, more than doubling its revenue since 2019.
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Puig Acquires Dr. Barbara Sturm
The Spanish beauty and fashion conglomerate has taken a majority stake in the German premium skincare brand.
