Puig and Charlotte Tilbury extend strategic partnership

Puig and entrepreneur Charlotte Tilbury have announced the extension of their strategic partnership in the founder’s eponymous beauty brand until the end of 2030. Under the terms of the agreement, Tilbury will retain a minority stake while Puig will gradually take full ownership of the brand by 2031.

The agreement includes call and put options exercisable at various times between 2026 and 2031, valued at multiples of key financial metrics of Charlotte Tilbury’s business. Together with Puig, Tilbury will continue to actively drive the long-term success of the brand.

Marc Puig, Chairman and CEO of Puig, explained: “It is a privilege to continue to work closely with Charlotte and her team. Charlotte has a unique, pioneering vision that is very different from other makeup brands and she was already redefining the future of makeup and skincare when we first started working together in 2020. We have achieved tremendous results since then and we are very pleased to announce the extension of our partnership. Charlotte Tilbury is an outstanding brand and I look forward to continuing to work with her to grow it further.”

Since Puig acquired a majority stake in Charlotte Tilbury, the brand’s net revenue has more than tripled.