Barcelona-based fashion and fragrance company Puig has snapped up Charlotte Tilbury in a deal that could have valued the company at up to £1bn.
The UK-based makeup and skincare entrepreneur personally owned between half and 75% of her self-named beauty empire before signing the deal with Puig, which The Guardian reports will “likely have handed her a cash pay-out worth tens of millions of pounds”.
While Tilbury will continue to own a “significant stake” in the company and act as chair, president and creative officer, she will no longer be its biggest shareholder.
On the deal, Tilbury said: “I’ve always dared to dream and create magic through beauty. I’m proud to be joining forces with Puig in a strategic partnership that will help us achieve our limitless ambitions.
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