Spanish fashion and beauty group Puig has acquired a majority stake in German molecular cosmetics brand Dr. Barbara Sturm to strengthen its position in the premium skincare market, especially within the US.
Founder Dr. Barbara Sturm will retain a minority stake and continue to lead the brand’s product development as chief product development officer and brand ambassador.
Puig, which also owns beauty, fragrance, and wellness brands, including Nina Ricci, Penhaligon's, Kama Ayurveda, Carolina Herrera and Byredo, said that it will help drive Dr. Barbara Sturm’s international expansion and development, while building on its existing network of spas and boutiques across Düsseldorf, London, New York, Miami, Los Angeles, Dallas, Jakarta, and Singapore.
Marc Puig, chairman and chief executive of Puig, said in a statement: “We are very excited to welcome a brand of the calibre of Dr. Barbara Sturm to our House of Love Brands. With its science-focused skincare product range and high-performance treatments, we are taking another important step in expanding our position in the premium skincare segment. The new partnership reinforces Puig skincare segment and our presence in the US.”
Commenting on the acquisition, Dr. Sturm added: "Puig has a proven track record of competitive and disruptive approach to business and, by leveraging Puig's experience in nurturing founders and fostering the global success of their beauty brands, we are primed to introduce our skincare products to wider audiences.
"This collaboration will fuel us to continuously push boundaries, craft high-performance treatments, and elevate the skincare experience. My philosophy revolves around the idea that if you protect your skin, it will protect you back. I firmly believe this reciprocal nature will define our exciting partnership with Puig."