Puig extends partnership with Charlotte Tilbury
Puig has decided to extend its ongoing relationship with Charlotte Tilbury and her eponymous cosmetics brand.
Since it acquired a majority stake in the cosmetics brand, Puig has worked to grow its net revenue over the past five years and will continue to do so under the terms of its new agreement, which runs until the end of 2030.
“In 2020, we established a partnership that has been pivotal in shaping our success. 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,” said Charlotte Tilbury MBE, president, chairman, chief creative officer and founder of Charlotte Tilbury Limited. “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.”
Under the new terms, Tilbury will continue to retain a minority stake, with Puig set to progressively obtain full ownership until the beginning of 2031.
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“It is a privilege to continue our strong collaboration with Charlotte and her team. 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,” said Marc Puig, chairman and CEO of Puig. “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.”
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. Together with Puig, Charlotte Tilbury MBE will continue playing an active role in driving the brand’s long-term success and building on its leadership position in the world of beauty, the company noted.
