The brand founded by celebrity makeup artist, Charlotte Tilbury has now agreed a deal with family-owned Spanish fragrance and beauty group Puig. The group has acquired a majority stake, whilst Charlotte will continue to own a significant stake in the company, acting as chairman, president and chief creative officer.
Having fought off rivalling bids made by Unilever and several private equity firms, the news further demonstrates that there has been little slowdown in beauty business negotiations during the pandemic. It also marks a considerable win for Barcelona-based Puig, who own brands including Jean Paul Gaultier, Paco Rabanne and Nina Ricci.
As highlighted in Business of Fashion, Charlotte stated:
“[Puig] has always inspired me with … its respect for founder-led brands like mine. I feel like I’m home.”
Whilst chairman and chief executive, Marc Puig echoed the sentiment, telling the Financial Times:
“We are proud to welcome Charlotte Tilbury to our family, which marks a key milestone in our ambition to develop a strong makeup and skincare business.”
Congratulations Charlotte, we look forward to following your next chapter!
