Barcelona-based fragrance company Puig has announced their purchase of a majority stake in beauty brand Charlotte Tilbury.
Puig, the Spanish company representing the fragrance catalogues of brands like Nina Ricci, Paco Rabanne and Carolina Herrera, beat out cosmetic giants Unilever, Estée Lauder, L’Oréal and Shiseido in acquiring Tilbury’s namesake brand.
Tilbury, the British makeup artist who founded the brand in 2013, was raised in the Spanish island of Ibiza. She has expressed her love for the country through countless collections inspired by and named after the island.
In a report published by WWD, a source determined the purchase value of the brand at approximately 1.2 billion pounds. Exact financial details have not yet been disclosed.
Tilbury will stay on as chairman, president and chief creative officer of the brand, so expect to see the bubbly MUA continue her role as the face of the brand. Chief executive officer Demetra Pinsent will also remain in her position. BDT Capital partners, the financial advisor to Puig, will also hold a minority stake in the brand.
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