Charlotte Tilbury Bags a Makeup Fortune With Star Power
Charlotte Tilbury Bags a Fortune With Star Power and Magic Cream
(Bloomberg) -- Charlotte Tilbury, with her wavy red mane and layers of gold necklaces, greeted her “darlings” recently during a live Instagram chat with actress Sofia Vergara.
The celebrity inspirations and social media sensibility are among the beauty brand’s strengths, and many of the products have British pizazz: there are lipsticks called Duchess and Queen, and another called JK Magic, named for author J.K. Rowling.
“I’ve done her makeup many, many times,” Tilbury said in the chat with Vergara. “I love Harry Potter.”
The makeup artist, who was raised on the Spanish island of Ibiza, is now a U.K. business luminary after Barcelona-based perfume maker Puig said it would acquire a majority stake in the label, according to a statement Thursday. Byron Trott’s investment firm BDT Capital Partners is buying a minority stake. While financial details weren’t disclosed, a person familiar with the matter said the deal values the business at more than 1.2 billion pounds ($1.5 billion).
“We’ve reached a pivotal point in our growth since launching seven years ago, and we’re looking forward to unlocking new opportunities with Puig,” Tilbury said in the statement.
The transaction will make Tilbury, 47, one of Britain’s richest female entrepreneurs. She’s estimated to own about half the firm, regulatory filings show.
The company’s press office didn’t reply to messages seeking comment on Tilbury’s net worth.
Tilbury, who secured an investment from Sequoia Capital in 2017, founded her namesake brand in 2013 after making her name working with celebrities including supermodel Kate Moss and actress Penelope Cruz.
Tilbury is retaining a significant minority stake in the business famous for products such as Magic Cream moisturizer and Pillow Talk lipstick. Many of her products shimmer, or promise to smooth out pores, or plump lips. One fragrance is titled “Scent of a Dream.”
Her social media savvy has long boosted the brand. A YouTube tutorial recreating the look she gave attorney Amal Clooney for her wedding to actor George Clooney attracted 2.6 million views. She has 3.5 million Instagram followers.
Kylie Jenner
Some of the celebrities she got to know along the way are poised to benefit, too. Fashion photographer Mario Testino and model Stella Tennant were among shareholders listed in a regulatory filing last year.
The cosmetics industry has given rise to several major fortunes in recent years. Coty Inc. said it’s in talks with Kim Kardashian West for a possible collaboration, just months after the company completed a $600 million deal with the reality TV star’s sister, Kylie Jenner.
The figures still pale in comparison with the world’s biggest cosmetics fortunes. They include Francoise Bettencourt Meyers, the richest woman in the 500-member Bloomberg Billionaires Index, whose $60.5 billion net worth is derived from her stake in L’Oreal SA. Estee Lauder has made the Lauders one of the world’s richest families.
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