Charlotte Tilbury Extends Partnership with Puig but Retains Minority Stake only Until 2030

Charlotte Tilbury, the British makeup artist and entrepreneur, has extended her partnership with Spanish beauty and fashion group Puig. Under this renewed agreement, Puig will progressively increase its ownership stake in Charlotte Tilbury Beauty Ltd., aiming for full ownership by early 2031. Tilbury will retain a minority stake in the company until the end of 2030, continuing her roles as Chairman, President, and Chief Creative Officer.

Since Puig acquired a majority stake in 2020, Charlotte Tilbury Beauty has experienced significant growth, with net revenues more than tripling. The brand has strengthened its position in the beauty industry, ranking fourth in Launchmetrics' 'Top beauty brands on social media' report for 2024.

The extended partnership includes call and put options exercisable between 2026 and 2031, based on key financial metrics of the business. Both parties express optimism about the continued growth and innovation through their collaboration.

Charlotte Tilbury MBE, President, Chairman, Chief Creative Officer & Founder of Charlotte Tilbury Limited, said: “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. 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. 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”.

This strategic move reflects Puig's commitment to expanding its presence in the luxury beauty market and Charlotte Tilbury's dedication to driving the brand's long-term success. The partnership is expected to further solidify Charlotte Tilbury Beauty's position as a leader in the global beauty industry.