International expansion helps Charlotte Tilbury sales jump by £140m
Sales at beauty brand Charlotte Tilbury jumped by almost £140m as it continued its global expansion during its tenth year in business, it has been revealed.
The makeup, skincare and fragrance products retailer has reported a turnover of £448.5m for 2023, up from the £310.3m it achieved in 2022.
Newly-filed accounts with Companies House also show that its pre-tax profit increased from £10.5m to £14.4m over the same period.
The London-headquartered firm’s EBITDA (earnings before interest, taxes, depreciation and amortisation) surged from £11.6m to £18.3m.
The newly-filed accounts detail the performance of the company’s UK operations, but only parts of its global business. As a result they do not reflect the company’s full global performance – which is not included in any public results.
The business was founded in 2013 by Charlotte Tilbury who serves as its chair.
A majority stake was acquired by Spanish cosmetics and fragrance company Puig in 2020 for £1.3bn
‘Digital innovation’ helps boost Charlotte Tilbury
A statement signed off by the board said: “2023 marked ten years of Charlotte Tilbury Beauty and in this special year the company continued its expansion and global growth to fulfil its purpose to ‘give everyone the right beauty wardrobe so they can conquer their world’.
“This included consistent growth across existing markets in all regions plus successful new launches in Poland, Sweden and the Middle East.
“The company continues to drive industry trends with its innovative new product launches while further establishing iconic product lines.”
The board of Charlotte Tilbury added: “The company’s star product in skincare continued to be Charlotte’s Magic Cream, with more than one sale per minute worldwide.”
It also said: “The company continued to build its brand authority and awareness through innovative marketing campaigns, major media campaigns and takeover events to support product launches and raise brand awareness at commercially important moments such as Holiday Season, Eid and Lunar New Year.
“Digital innovation continued to be a strategic focus, developing compelling experiences for customers including first-to-market features such as the Foundation Finder (which allows customers to find their foundation colour match online), stoppable masterclasses and virtual consultations.”