Puig has extended its strategic partnership with make-up and skin care brand Charlotte Tilbury Limited to 2030.
Under the renewed agreement, the brand’s founder, make-up artist Charlotte Tilbury, will retain a minority stake, with Puig progressively assuming full ownership until the beginning of 2031.
The Barcelona-based fashion and beauty conglomerate acquired a majority stake in Charlotte Tilbury in 2020.
The new deal includes call and put options exercisable at different periods between 2026 and 2031.
Under a call option, the holder has the right to buy the asset at a set price before the contract expires.
A put option, meanwhile, gives the holder the right to sell the asset at a set price before the contract expires.
These are valued at a multiple of key financial metrics of the Charlotte Tilbury business, said Puig.
“In 2020, we established a partnership that has been pivotal in shaping our success,” commented Tilbury, who is President, Chairman and CEO of Charlotte Tilbury.
“I am fully convinced of the value and potential that is still to be created and captured in the upcoming years by Charlotte Tilbury Limited.
“Continuing this collaboration with my team and Puig feels like a natural progression, driven by the same innovation, vision and ambition that have defined this iconic brand over the years.
“This extended partnership is a significant step forward, enabling us to further grow and solidify the brand’s position as a leader in the world of beauty.”
Marc Puig, Chairman and CEO of Puig, added: “It is a privilege to continue our strong collaboration with Charlotte and her team.
“Charlotte has a unique, pioneering vision, differentiated from other make-up artist brands, and was already redefining the future of make-up and skin care when we first started to work together in 2020.
“We have achieved so much since then, and it is with great pleasure that we announce the extension of our partnership.
“Charlotte Tilbury is an outstanding brand, and I look forward to continuing our work together to make it grow even further.”
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