Puig and Charlotte Tilbury lengthen strategic partnership

THE WHAT? Puig and entrepreneur Charlotte Tilbury have introduced the extension of their strategic partnership within the founder’s eponymous magnificence model till the top of 2030. Below the phrases of the deal, Tilbury will retain a minority stake with Puig to progressively assume full possession by 2031.

THE DETAILS Since Puig’s acquisition of a majority stake in Charlotte Tilbury, the model has greater than tripled its internet income.

The settlement consists of name and put choices exercisable at completely different intervals between 2026 and 2031 and valued at a a number of of key monetary metrics of the Charlotte Tilbury enterprise. Along with Puig, Tilbury will proceed enjoying an lively position in driving the model’s long-term success.

THE WHY? Marc Puig, Chairman and CEO of Puig, explains, “It’s a privilege to proceed our sturdy collaboration with Charlotte and her group. Charlotte has a singular, pioneering imaginative and prescient, differentiated from different make-up artist manufacturers, and was already redefining the way forward for make-up and skincare after we first began to work collectively in 2020. We’ve got achieved a lot since then, and it’s with nice pleasure that we announce the extension of our partnership. Charlotte Tilbury is an impressive model, and I look ahead to persevering with our work collectively to make it develop even additional.”