Puig is set to acquire the cosmetics brand Charlotte Tilbury.
Under the terms of the renewed partnership, founder Charlotte Tilbury will retain a minority stake, with Puig to assume full ownership at the beginning of 2031. The agreement includes call and put options exercisable at different periods between 2026 and 2031, valued at a multiple of key financial metrics of the Charlotte Tilbury business.
Tilbury, MBE, president, chairman, chief creative officer and founder of Charlotte Tilbury Limited, said, “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. 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.”
Marc Puig, chairman and CEO of Puig, said, “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 skin care 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.”
