Puig to Assume Full Ownership of Charlotte Tilbury in 2031

Five years after acquiring a majority stake in Charlotte Tilbury’s eponymous cosmetics company, the Spanish fashion and beauty conglomerate Puig announced on Tuesday that it will extend their partnership to 2030. Tilbury will retain a minority stake, with Puig to assume full ownership of the brand in early 2031.

“In 2020, we established a partnership that has been pivotal in shaping our success,” Tilbury said in a statement, calling the extension “a significant step forward” in solidifying the future of her namesake business.

Chief executive and chairman Marc Puig hailed Tilbury’s “unique, pioneering vision differentiated from other makeup artist brands.” The UK-based makeup label has “more than tripled” net revenue since Puig acquired a majority stake in 2020, according to the Spanish company. At the time, sources valued Tilbury’s business at over £1 billion ($1.2 billion).

Puig’s beauty portfolio includes fragrance brands like Byredo, Penhaligon’s, and L’Artisan Perfumeur, as well as licenses for Christian Louboutin cosmetics and Antonio Banderas perfumes. It grew significantly with majority stake acquisitions in Charlotte Tilbury in 2020, and in the German premium skincare brand Dr. Barbara Sturm in early 2024.

Puig reported net revenues of €4.3 billion ($4.5 billion) in 2023, more than doubling its revenue since 2019.

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Puig Acquires Dr. Barbara Sturm

The Spanish beauty and fashion conglomerate has taken a majority stake in the German premium skincare brand.

Editor’s Note: This article was amended on Dec. 18. 2024, to correct Puig’s active licenses.