Puig top executives join board of Charlotte Tilbury as beauty brand inks new deals
Catalan fashion group Puig is getting more involved in beauty brand Charlotte Tilbury, of which it is the majority shareholder and which was valued at €1 billion at the beginning of June, adding five new members to Charlotte Tilbury's board of directors.
The board is chaired by the British brand’s founder and creative director, Charlotte Tilbury, but five of the Puig group’s top executives have recently joined the board: group President and CEO Marc Puig Guasch, Vice-President Manuel Puig Rocha, CFO Joan Albiol, as well as Ingrid Trias and Francisco Blanco, according to Spanish business newspaper Expansión.
The BTD Capital merchant bank, a minority shareholder in Charlotte Tilbury, has appointed its Managing Director Mariafrancesca Carli to represent its interests on the board. The other board members are George Waud, Charlotte Tilbury’s husband, and Demetra Pinset, the beauty brand’s CEO.
In parallel, Puig has set up a new UK-based holding company to manage the personal assets of Charlotte Tilbury, who also has a stake in the new company.
The Puig group operates in 150 countries, and in 2019 it generated a revenue of €2.029 billion. The next goals for Charlotte Tilbury are improving profitability and expanding the distribution network. In 2018, the beauty brand generated a revenue of €112 million. Ever since Puig acquired a stake in Charlotte Tilbury, the brand has redoubled its efforts to boost growth.
Charlotte Tilbury buoyant, strikes deals with Asos, Le Bon Marché
A few days ago, Charlotte Tilbury announced a collaboration with Asos. The British e-tailer will feature the brand’s facial and body care products on its site within three months, alongside those of the 150 brands it already distributes. Charlotte Tilbury will therefore be able to broaden its digital horizons at a time when the web is an increasingly essential channel, due to the threat Covid-19 is posing to physical retail, between lockdowns, mandatory store closures and the plethora of health protection measures that need to be adopted by shops.
Last September, Charlotte Tilbury entered the French market, where it is distributed by Sephora, as well as through its own e-shop. It is now available also in the new beauty section of Parisian department store Le Bon Marché. In partnership with the LVMH-owned department store, Charlotte Tilbury will also be taking its first steps on the Italian market in September.
Charlotte Tilbury currently employs over 1,000 people and is distributed in 67 markets via its e-shop. The brand was founded in 2013 and is currently available at 474 stores worldwide, including two directly-owned stores in London, another two in Qatar and three in Dubai, Abu Dhabi and Kuwait.
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