Puig to buy majority stake in British cosmetics company Charlotte Tilbury
Spanish fashion and fragrance company Puig is set to acquire a majority stake in British luxury makeup and skincare brand Charlotte Tilbury for an undisclosed price.
The British cosmetics company was launched in 2013 by make-up artist Charlotte Tilbury, who will sell a significant minority stake in it to Puig. Charlotte Tilbury owns the Magic Cream moisturizer product and Pillow Talk lip, eye, and face collection of products.
BDT Capital Partners that offers family-and founder-led businesses with long-term capital, will invest alongside Puig. The merchant bank will hold a minority stake in Charlotte Tilbury.
Charlotte Tilbury said: “I’m proud to be joining forces with Puig in a strategic partnership that will help us achieve our limitless ambitions. We’ve reached a pivotal point in our growth since launching seven years ago, and we’re looking forward to unlocking new opportunities with Puig, which is the perfect partner as we build an iconic brand to last.
“Puig drives some of the world’s most distinctive premium fashion and fragrance brands and has always inspired me with how it innovates and reimagines brands through storytelling and creativity, and its respect for founder-led brands like mine. I feel like I’m home”.
The Spanish company said that the transaction will help it add an established and quickly-growing makeup and skincare brand to its existing portfolio of fashion, fragrance, and luxury beauty brands. Furthermore, it said that the entry of a brand like Charlotte Tilbury, with a solid product portfolio and robust digital capabilities, will strengthen its position in the category and make it a strong three-axis global competitor in the luxury beauty category.
Puig also believes that Charlotte Tilbury will be able to access its global presence and operations to grow its worldwide presence.
Marc Puig – Puig Chairman and CEO said: “We are beyond excited to partner with Charlotte and her team and support them in the next stage of developing the brand.
“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”.