Puig and Charlotte Tilbury Prolong Strategic Alliance Until 2031
Spanish beauty conglomerate Puig has extended its strategic partnership with renowned makeup artist Charlotte Tilbury until 2030. The deal also includes plans for Puig to assume full ownership of the eponymous beauty brand by 2031.
This announcement comes as Charlotte Tilbury’s business has seen a significant increase, tripling its net revenue since Puig’s initial majority stake acquisition in 2020. Under the renewed agreement, Charlotte Tilbury will retain a minority stake while continuing to serve as President, Chairman, and Chief Creative Officer.
The deal includes call and put options exercisable between 2026 and 2031, valued at a multiple of key financial metrics. Marc Puig, Chairman and CEO of Puig, praised Charlotte’s unique and pioneering vision, which he said sets her apart from other makeup artist brands.
The brand currently holds the top spot as the number one makeup brand in the U.K. and leads globally for influencer advocacy, despite selective distribution. The extension of the partnership comes at a time when Charlotte Tilbury’s sell-out performance remains strong, with double-digit growth in its largest markets, including EMEA and the Americas.
Puig’s beauty portfolio includes esteemed brands like Byredo, Penhaligon’s, and the recently acquired Dr. Barbara Sturm.
Source: Global Cosmetics News