Business mogul Charlotte Tilbury expands workforce by 150 employees, as profits soar significantly
Charlotte Tilbury and Refy Post Record Profits and Expansion
In the world of beauty, two brands have stood out for their impressive financial performance and growth in 2024. Spanish cosmetics and fragrance company Puig, which acquired a majority stake in Charlotte Tilbury in 2020 for £1.3bn, and Refy, a London-based beauty brand co-founded by Jess Hunt, have reported significant gains.
Charlotte Tilbury, the eponymous brand founded by its chair and namesake in 2013, posted a pre-tax profit of £18.3m for the year 2024, an increase from £14.4m in the prior 12 months. The brand's revenue for the year reached £487.3m, up from £448.5m in the previous year. These figures reflect a strong financial performance for the brand, although it reported a net loss in the first half of 2025 due to tariff impacts and other factors.
The success of Charlotte Tilbury can be attributed to its aggressive marketing budgets, around €1.6 billion (approximately $1.7 billion), which supported revenue growth and helped solidify the brand as a major global beauty player. The brand expanded globally, opening new stores in Miami (US), Glasgow, and Liverpool (UK), and launching in new markets such as the Czech Republic, Turkey, Austria, Denmark, and Portugal.
Refy, on the other hand, reported a turnover of £40.3m for the year to 31 August, 2024, a significant increase from its prior year's turnover of £24.8m. The brand's UK turnover rose from £10.4m to £13.6m in the year, and its turnover in the rest of Europe increased from £1.8m to £3m. Refy's pre-tax profit also saw a substantial rise, increasing from £8.9m to £13.2m. The company's headcount rose from 48 to 94 in the year, indicating a growth in its workforce to support its expanding business.
Puig has extended its investment in Charlotte Tilbury until the end of 2030, and Charlotte Tilbury, who remains the founder of the brand, will retain a minority stake while Puig progressively increases its holdings in the company until the start of 2031.
In terms of job creation, while specific numbers for 2024 were not provided, the large-scale investment in marketing and global expansion typically correlates with increased hiring, especially in marketing, sales, and production roles to support growth. The company's focus on expanding its market reach and product lines likely necessitated additional staffing.
In summary, both Charlotte Tilbury and Refy have shown remarkable growth in 2024, with record profits and expansion. Their success can be attributed to aggressive marketing strategies, global expansion, and a focus on product innovation and quality. As they continue to grow and evolve, these brands are poised to remain significant players in the beauty industry.
- These impressive financial performances of Charlotte Tilbury and Refy in 2024 demonstrate the potential for success in the small-business landscape, especially within the fashion-and-beauty market.
- The reports of record profits, expansion, and increased turnovers for Charlotte Tilbury and Refy suggest an upward trend in careers within the beauty and entrepreneurship sectors.
- Despite a temporary setback in the form of a net loss in the first half of 2025, Charlotte Tilbury's aggressive marketing budget and global expansion have contributed to its being recognized as a major player within the finance-driven markets of the beauty industry.
- As both Charlotte Tilbury and Refy further solidify their positions in various markets and invest in job creation, they are contributing to growth in the lifestyle sector, fostering new opportunities for entrepreneurs and professionals in careers such as marketing, sales, production, and more.
