Yesterday, Puig, the Spanish beauty and fashion powerhouse, and Charlotte Tilbury Ltd. have extended their strategic partnership, with Puig set to progressively assume full ownership of the brand by 2031. The collaboration, which began with Puig’s acquisition of a majority stake in 2020 for an estimated £1.2 billion, has already yielded remarkable growth for the iconic beauty brand.
Since the acquisition, Charlotte Tilbury Ltd., known for its strong digital presence and premium cosmetics, has more than tripled its net sales. According to Puig, the brand has been instrumental in cementing the company’s position as the fastest-growing multibrand beauty player.
The new agreement includes call and put options, exercisable between 2026 and 2031, tied to key financial metrics of Charlotte Tilbury’s business. Despite the shift in ownership, Charlotte Tilbury herself will retain a minority stake and continue her active role as chairman, chief creative officer, and founder, driving the brand’s innovation and vision.
Charlotte Tilbury Ltd. has achieved notable success, ranking as the number one makeup brand in the U.K. and leading globally in influencer advocacy, despite a selective distribution strategy. “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,” said Tilbury, highlighting the collaboration’s role in shaping the brand’s future.
Marc Puig, chairman and CEO of Puig, praised Tilbury’s pioneering approach, which he described as transformative for the makeup and skincare industry. Under Puig’s stewardship, Charlotte Tilbury has expanded its market reach, including entering Ulta Beauty in 2023, which contributed to strong double-digit growth in the EMEA and Americas regions.
Puig’s third-quarter earnings further demonstrated the brand’s impact, with 11.6% like-for-like sales growth to €1.26 billion.
