Puig and Charlotte Tilbury extend strategic partnership
Puig has announced an extension of its strategic partnership with the Charlotte Tilbury cosmetics brand.
The Spanish fashion and beauty group acquired a majority stake in Charlotte Tilbury in 2020 and since then the brand has more than tripled its net revenue.
Under the terms of the renewed partnership, which will run until 2030, Charlotte Tilbury will retain a minority stake in the business, with Puig progressively assuming full ownership by 2031.
The agreement includes call and put options exercisable at different periods between 2026 and 2031 and valued at a multiple of key financial metrics of the Charlotte Tilbury business.
Charlotte Tilbury, president, chairman, chief creative officer and founder of the brand, said: “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.
“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.”
Puig’s portfolio of brands includes the likes of Nina Ricci, Jean Paul Gaultier, Rabanne and Penhaligons.
Marc Puig, chairman and chief executive of Puig, said: “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 is an outstanding brand, and I look forward to continuing our work together to make it grow even further.”
