Puig, the Barcelona-headquartered beauty conglomerate, has seen shares dip following a withdrawal of a Charlotte Tilbury setting spray.
Puig’s share price on 6 December dropped to €18.99 following the 5 December withdrawal notification, down from €20.12 at the beginning of last week.
The company revealed that Charlotte Tilbury, one of the beauty brands in its portfolio, is conducting a global voluntary withdrawal for select batches of its Airbrush Flawless Setting Spray.
This followed routine product testing which identified an isolated quality issue in a limited number of batches.
According to Puig, the product is still safe, and it added that no other Charlotte Tilbury products were affected.
The £32 setting spray contains aloe vera and Japanese green tea for hydration and claims to provide waterproof make-up setting action for up to 16 hours.
Puig shared that the withdrawal is expected to impact the performance of its make-up segment.
But the action is not expected to have a material impact on Puig’s overall performance in the full year.
Last month, cult skin care brand Drunk Elephant recalled three of its products in the US due to an ingredient mix-up between preservatives and surfactants during production.
Meanwhile, L’Oréal last year recalled 487 units of its Mizani 25 Miracle Cream Leave-in Conditioner due to potential contamination with Burkholderia cepacia complex.
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