The Catalan cosmetics company Puig has announced the extension of its “strategic” collaboration with makeup artist Charlotte Tilburygoing from an agreement signed in 2020 until the end of 2025 to one until the end of 2030.
In a statement sent to the National Securities Market Commission (CNMV) this Tuesday, the company explained that Charlotte Tilbury MBE will retain a minority stake in the company Charlotte Tilbury Limited until the end of 2030.
As reported by the company in another statement, Puig will progressively assume complete ownership, until fully acquiring it at the beginning of 2031.
The agreement includes purchase and sale options exercisable in different periods between 2026 and early 2031 and valued at a multiple linked to the key financial metrics of Charlotte Tilbury’s business.
Since Puig acquired a majority stake in Charlotte Tilbury Limited, the brand’s net revenue has more than tripled, “expanding Puig’s Love Brands portfolio and helping it become the fastest-growing multi-brand beauty company.” in recent years.”
After extending their collaboration, both brands have committed to “continue growing the beauty brand and consolidating its leadership position in its sector.” The executive president of Puig, Marc Puig, has celebrated continuing the collaboration, since the makeup artist has a “unique and pioneering vision, differentiated from other makeup artist brands.”
Charlotte Tilbury Limited Chairman and Founder Charlotte Tilbury has argued that the alliance, created in 2020, has been essential in shaping its success and has said that continuing the collaboration is a “natural progression”.
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