11 months ago
22
Spanish beauty conglomerate Puig has acquired a majority stake in luxury skin-care brand Dr. Barbara Sturm.
While terms of the deal were not disclosed, WWD previously reported that Dr. Barbara Sturm’s annual sales were around $77 million. Puig has been one of the newer strategic acquirers in recent years, building up an arsenal of beauty brands as it aims to compete with established players like L’Oréal Group and The Estée Lauder Companies, plus emerging players like Kering Group. Previously, Puig purchased a majority stake in Charlotte Tilbury in 2020, which reportedly valued the makeup brand at $1.2 billion, as well as Byredo in 2022 also for a reported $1.2 billion, and beauty and wellness brand Kama Ayurveda in 2022 for an undisclosed sum.
The 10-year-old Dr. Barbara Sturm brand has a network of spas and boutiques in Düsseldorf, Germany; London; New York; Los Angeles; Dallas; Jakarta and Singapore. The brand has cultivated a strong, buzzy following for its anti-inflammatory products among celebrities like models Bella Hadid and Elsa Hosk, plus Gwyneth Paltrow and Jennifer Garner.
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