Charlotte Tilbury's soaring profits lead to the creation of 150 new job opportunities
Refy and Charlotte Tilbury, two prominent beauty brands based in the UK, reported impressive financial growth in their latest financial years.
Refy, co-founded by Jess Hunt, saw a significant increase in its turnover, rising from £1.8 million to £3 million in the rest of Europe and £10.4 million to £13.6 million in the UK. This resulted in a pre-tax profit of £8.9 million rising to £13.2 million, and a total turnover of £24.8 million in the prior 12 months, as reported in its accounts filed with Companies House. The company also expanded its workforce, employing 853 people in the latest financial year, up from 704 in the prior year [1].
On the other hand, Charlotte Tilbury, founded in 2013 and headquartered in London, experienced even more substantial growth. The brand's pre-tax profits rose over 25% from £14.4 million to £18.3 million, and its revenue increased from £448.5 million to £487.3 million. This growth coincided with the creation of 150 new jobs, raising its total workforce to 853 employees. The brand also expanded globally, launching in new markets including the Czech Republic, Turkey, Austria, Denmark, and Portugal. Additionally, it opened new stores in Miami (US), Glasgow, and Liverpool (UK), adding approximately 1,500 additional sales points worldwide during the year [1].
The brand's steady financial health is also reflected in its EBITDA, which had been increasing consistently from 2017 through 2023, reaching over £18 million by the end of 2023, indicating sustained operational profitability leading into 2024 [2].
These developments follow Charlotte Tilbury's acquisition by Puig in 2020 for £1.3bn. Puig is planning to extend its investment in Charlotte Tilbury until the end of 2030, and is set to take full control of the brand, with Charlotte Tilbury retaining a minority stake while Puig progressively increases its holdings in the company until 2031. Charlotte Tilbury serves as the chair of the business [3].
Refy and Charlotte Tilbury's growth and expansion efforts demonstrate a continued strategy of market expansion and retail footprint growth, positioning both brands for continued success in the competitive beauty industry.
[1] The Telegraph, "Charlotte Tilbury beauty brand reports 25% rise in profits", 2024. [2] The Guardian, "Charlotte Tilbury's EBITDA reaches £18 million", 2024. [3] Financial Times, "Puig to take full control of Charlotte Tilbury", 2024.
- Refy's impressive financial growth, demonstrated by a rise in pre-tax profit and total turnover, indicates a successful small-business venture within the realm of entrepreneurship, particularly in the UK markets.
- Charlotte Tilbury's substantial growth, characterized by increasing pre-tax profits and revenue, as well as expanded workforce and international market presence, underscores the potential for significant gains in finance for entrepreneurship focused on the beauty industry.
