Spanish beauty and fragrance conglomerate Puig announced today that it is extending its investment in Charlotte Tilbury until the end of 2030. Under the terms of the renewed agreement, Charlotte Tilbury MBE will retain a minority stake for now, with Puig “to progressively assume full ownership until the beginning of 2031”.
Puig first acquired a majority stake in the beauty brand in 2020, and since then the Charlotte Tilbury brand has more than tripled its net revenue, though the company does not share individual brand sales.
“It is a privilege to continue our strong collaboration with Charlotte and her team,” said Puig’s chairman and CEO Marc Puig in a statement. “We have achieved so much since [2020], 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.”
Charlotte Tilbury has performed well under the conglomerate’s umbrella. In its Q3 earnings report, Puig’s makeup category rose 7.3 per cent to €22.6 million in Q3, totalling €535 million for the first nine months of 2024, a 1.4 per cent increase over the same period last year. That growth was primarily led by Charlotte Tilbury, which remained “strong with growth in its largest markets, EMEA and the US”, according to Marc Puig, speaking with investors on the Q3 earnings call. The group also owns brands Rabanne, Nina Ricci, Dr Barbara Sturm and Carolina Herrera.
The beauty brand was founded by Charlotte Tilbury MBE — who currently serves as president, chairman, chief creative officer and founder of the brand — in September 2013 and has become a leading player in the industry since. In 2024, data analytics company Launchmetrics ranked Charlotte Tilbury number four in its ‘Top beauty brands on social media’ report, garnering $905.5 million in media impact value (MIV).
It had a big year: the brand worked with celebrities like Celine Dion for her Paris Olympics opening ceremony performance, Cynthia Erivo at the Los Angeles Wicked premiere and tapped longtime ambassadors and models Kate Moss and Jourdan Dunn for the launch of its new Exagger-Eyes Volume mascara in August. It partnered with Formula One and also plans to open a ‘Skin Spa’ concept on 9 January in London’s Covent Garden. The store will offer customers facial treatments and makeup tutorials from the brand’s trained artists, access to its hero ‘Pillow Talk’ and ‘Flawless Filter’ products and an event space.
In a statement, Charlotte Tilbury MBE 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.”
Comments, questions or feedback? Email us at feedback@voguebusiness.com.
