Puig And Charlotte Tilbury MBE Announce Extension Of Strategic Partnership

Spanish beauty conglomerate Puig announces the extension of their strategic partnership with the cosmetics brand Charlotte Tilbury.

Charlotte Tilbury Limited has more than tripled its net revenue since Barcelona-based fashion and beauty conglomerate Puig’s acquisition, contributing to making Puig a fast-growing multi-brand beauty player. After almost five years of a successful partnership and significant value creation, the parties have now extended their strategic agreement until the end of 2030.

Under the terms of the renewed partnership, Charlotte Tilbury MBE will retain a minority stake, with Puig to progressively assume full ownership until the beginning of 2031. The agreement includes call and put options exercisable at different periods between 2026 and 2031 and valued at a multiple of key financial metrics of the Charlotte Tilbury business. Together with Puig, Charlotte Tilbury MBE will continue playing an active role in driving the brand’s success and building on its leadership position in the beauty industry.

The extension of this partnership is testament to the strength of the relationship between Puig and Charlotte Tilbury MBE since their collaboration began in 2020. It also reflects Puig’s unique approach to collaborating with visionary founders, reaffirming its identity as a Home of Love Brands, which encourages and promotes diversity of thought, entrepreneurship and creativity.

“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,” said Charlotte Tilbury MBE, President, Chairman, Chief Creative Officer and Founder of 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.”

“Charlotte has a unique, pioneering vision, differentiated from other makeup artist brands, and was already redefining the future of makeup and skincare when we first started to work together in 2020,” said Marc Puig, Chairman and CEO of Puig. “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.”

Puig’s beauty portfolio includes fragrance brands like Byredo, Penhaligon’s, and L’Artisan Perfumeur, as well as licenses for Christian Louboutin cosmetics and Comme des Garçons 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.

Charlotte Tilbury

British makeup artist Charlotte Tilbury has created campaign looks for Tom Ford , Roberto Cavalli, Michael Kors, Dsquared2, Stella McCartney, Loewe and H&M and has also been responsible for beauty campaigns for Burberry and Tom Ford.

Her inspiration is quite interesting. Born in London and raised in Ibiza, Charlotte grew up surrounded by artists, musicians, actors and writers. With her father, Lance, a painter and mother, Patsy, a fashion producer, she always knew she would pursue a creative career. There were two key moments that had an impact on her. The first was meeting makeup artist Mary Greenwell at a young age. The second was discovering the transformative power of makeup when she started wearing mascara. “I instantly felt more confident, more attractive and more empowered. I was always walking a path towards makeup artistry.”

Tilbury attended Glauca Rossi School of Makeup, London and then launched the Rock And Kohl festival at Selfridges in 2013, with the unveiling of a lenticular image of supermodel Kate Moss. In 2013, Tilbury launched her own line of cosmetics at London’s Selfridges. The beauty brand quickly became one of the department store’s most popular makeup counters and is now stocked by the likes of Fenwick’s, Harvey Nichols and Net-a-Porter, as well as Nordstrom and Bergdorf Goodman in the US. 

In November 2015, the Charlotte Tilbury flagship store opened in London’s Covent Garden, with expansions in the US, Canada, Germany, Netherlands, Hong Kong, Dubai and several other international locations, along with online distribution achieving record growth. In June 2020, Tilbury sold a majority stake of the independent beauty brand to Spanish group Puig for an estimated $1 billion. Despite going into partnership with Puig, Tilbury remains chairman, president and chief creative officer at Charlotte Tilbury, while also claiming a significant minority stake.

In 2016, Charlotte launched her Hot Lips collection. From the collection, £1 from every lipstick sold during the first two months, was donated to Women for Women International. This pledge will be instrumental in helping women survivors of war rebuild their lives and create a ripple effect of change in their communities.

“It’s hard to put into words what the £1 million pledge means to Women for Women International – it’s almost indescribable! To know that Charlotte believes in our work and is ready to commit the full force of her business to bringing about change for women in some of the world’s most dangerous places is truly inspirational,” says Brita Fernandez Schmidt, Senior Vice President for Global Partnerships, Women for Women International.

Tilbury was appointed a Member of the Order of the British Empire in the 2018 Queen’s Birthday Honours List for services to the beauty and cosmetics industry. In addition, she was given the Rodial Award for Best Makeup Artist 2012, the CEW Achiever award in 2014, and was nominated for Veuve Clicquot Businesswoman of the Year for 2016.