Puig, the Spanish group specializing in fragrances, beauty and fashion, makes its first acquisition in the buoyant high-end skincare sector by buying a majority stake in the German skincare brand.
The pause in acquisitions announced by Puig at the beginning of 2023 did not last long…
After acquiring Swedish cosmetics brand Byredo and make-up specialist Charlotte Tilbury over the last three years, the Spanish fragrance, beauty and fashion group has now acquired Dr. Barbara Sturm.
For an undisclosed sum, Puig has acquired a majority stake in the German high-end skin and hair care brand. Dr. Barbara Sturm retains a minority stake in the brand she founded in 2014, and will remain its product director and ambassador.
Puig’s acquisition of a high-end skincare brand marks its first foray into this buoyant sector. And it joins a string of purchases in this niche, as demonstrated by L’Oréal’s 2023 acquisitions of the Aesop cosmetics brand from Natura in April, or of the Dr. Dennis Gros skincare line by Shiseido in December.
A gap filled
Puig’s portfolio includes brands such as Carolina Herrera, Rabanne, Jean Paul Gaultier, Dries Van Noten, Nina Ricci, Byredo, Penhaligon’s, L’Artisan Parfumeur, Kama Ayurveda, Loto del Sur, Charlotte Tilbury, Uriage and Apivita, as well as licenses for Christian Louboutin, Benetton, Banderas and Adolfo Dominguez, among others.
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Read also > SPANISH PERFUME GROUP PUIG IS PREPARING ITS IPO FOR 2024
Featured Photo: © Dr. Barbara Sturm
