Spanish-based perfume and fashion company Puig has announced the acquisition of a majority stake in makeup brand Charlotte Tilbury.
Launched in 2013 by Charlotte Tilbury itself, the British-based brand creates and develops luxury makeup and skincare products.
Charlotte will continue as chairman, president, and Chief Creative Officer of the company.
According to the company press release, this acquisition “will add an established and rapidly growing makeup and skincare brand to Puig existing portfolio of fashion, fragrance, and luxury beauty brands. The entry of a brand as compelling as Charlotte Tilbury, with a solid product portfolio and strong digital capabilities, will reinforce Puig position in the category and make Puig a strong three-axis global competitor in the luxury beauty category”.
The company added, “Charlotte Tilbury also will be able to access Puig global footprint and operations to expand its worldwide presence”.
The terms of the deal were not disclosed.
Sources: Puig Press Release