Photo: Courtesy of Dr. Barbara Sturm
On Thursday, Spanish company Puig announced its acquisition of a majority stake in luxury skin-care brand Dr. Barbara Sturm. It marks the first foray into the skin-care category for Puig, whose fashion and beauty primarily comprises fragrances and color cosmetics for brands like Carolina Herrera, Byredo, Christian Louboutin, Penhaligon’s and Rabanne.
Dr. Barbara Sturm, who founded the eponymous brand in 2014, will retain a minority stake and continue serving as Chief Product Development Officer, per the company press release. Puig did not disclose the size of either’s stake, and Dr. Sturm did not immediately respond to Fashionista’s request for comment. However, according to the Business of Fashion, sources close to the company claim its 2023 retail sales hit $150 million.
“We are very excited to welcome a brand of the caliber of Dr. Barbara Sturm,” Chairman and CEO of Puig Marc Puig said in a statement. “With its science-focused skin-care product range and high-performance treatments, we are taking another important step in expanding our position in the premium skin-care segment. The new partnership reinforces Puig skin-care segment and our presence in the U.S.”
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Source: Fashionista.com
