Fashion-to-fragrance company Puig is to acquire a majority stake in the Charlotte Tilbury luxury makeup and skincare brand, which was launched in 2013.
Founder Charlotte Tilbury will retain a significant minority stake and remain with the company as Chairman, President and Chief Creative Officer. Demetra Pinsent will remain as CEO.
BDT Capital Partners, a merchant bank that provides family- and founder-led businesses with long-term capital, will invest alongside Puig and hold a minority stake. BDT also acted as financial advisor to Puig.
Charlotte Tilbury said: “I’ve always dared to dream and create magic through beauty. 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.”
She added: “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.”
“We are beyond excited to partner with Charlotte and her team and support them in the next stage of developing the brand,” said Puig Chairman and CEO Marc Puig. “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.”
The acquisition of a majority stake in Charlotte Tilbury will add an established and growing makeup and skincare brand to Puig’s existing portfolio of fashion, fragrance and luxury beauty brands, noted the Barcelona-based company.
It said: “The entry of a brand as compelling as Charlotte Tilbury, with a solid product portfolio and strong digital capabilities, will reinforce Puig’s position in the category and make Puig a strong three-axis global competitor in the luxury beauty category. Charlotte Tilbury also will be able to access Puig global footprint and operations to expand its worldwide presence.”
Puig owns some of travel retail’s best-known fragrance brands, including Carolina Herrera, Christian Louboutin, Jean Paul Gaultier, Nina Ricci, Penhaligon’s, and Paco Rabanne.
As reported, the company is a Platinum Partner at the pioneering Moodie Davitt Virtual Travel Retail Expo.
The unique five-day ‘live’ Virtual Travel Retail Expo, which is followed by a 30-day showcase (click here to register) begins on 12 October, just after the conclusion of the Chinese Golden Week holidays. It features a powerful series of activities across the five days, including a Symposium, category workshops and a new consumer research initiative.
