Charlotte Tilbury pays £ 3.2million off leave as sales skyrocket | Retail business


Celebrity makeup artist Charlotte Tilbury’s company has repaid £ 3.2million in leave money after sales skyrocketed during the pandemic as shoppers switched to shopping online.

Accounts filed with Companies House also reveal that Tilbury sold his business for £ 1.3bn – far more than the £ 1bn previously thought – to Spanish cosmetics and perfume group Puig last year.

The scale of the deal means Tilbury, who personally held a controlling stake in the company between 50% and 75%, is likely to have received hundreds of millions of dollars from the takeover of the company in which it remains a shareholder minority.

The London-born makeup artist, who grew up on the Spanish island of Ibiza, also received an advisory fee of £ 1.55million last year from one of the group’s parent companies, Islestarr Holdings, according to Companies House records.

Global sales of the Charlotte Tilbury Limited group increased 11.3% to reach £ 258.5million in the fiscal year ended December 31, 2020, according to figures released by the company, thanks to a strong performance on key markets such as the UK, mainland Europe and Asia.

While its stores have been forced to close for long periods of time, the cosmetics group said online sales have doubled to two-thirds of total sales. Sales were supported by online video beauty consultations and a virtual store featuring a Tilbury avatar, and the company also continued to launch new products when some rivals held back.

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Tilbury’s advice from years in the business, with famous clients including Amal Clooney and Penélope Cruz, has helped her establish a large social media presence with around 10 million subscribers across various platforms enabling the business to continue to thrive during the coronavirus pandemic.

The group fell to a £ 9.9m in pre-tax loss for the year, after more than £ 29m in one-off charges related to its buyout by Puig. However, a spokesperson said the company reimbursed the leave in cash as underlying profits, before one-off costs, interest payments and other adjustments, rose nearly 44% to £ 32million. sterling. “We would like to thank the UK government for its support,” the spokesperson said.

Along with Tilbury’s activities, Barcelona-based Puig owns brands such as Paco Rabanne, Jean Paul Gaultier and Nina Ricci.

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