Puig is starting off the new year with a bang: On Thursday, the Spanish luxury conglomerate acquired a majority stake in skincare brand Dr. Barbara Sturm, a favorite among A-listers like Oprah, Kim Kardashian, and Victoria Beckham.
Puig has not disclosed the terms of the deal, though Business of Fashion reports that Dr. Barbara Sturm's retail sales reached $150 million in 2023.
Last year, beauty insiders began speculating that the brand was ripe for acquisition — the question wasn't whether it would be bought, but when. Since its launch in 2014, Dr. Barbara Sturm has amassed a cult-like following thanks its founder, none other than Barbara Sturm herself. Sturm's lore, from her training in orthopedics to her hand in igniting the "vampire facial" craze, is often espoused in marketing material. Sturm is the only face of the brand — you might recall the gigantic billboards starring a nude Sturm, plus her preternatural glow, that once towered over Sunset Boulevard.
Clearly, the strategy is working. Customers are more than willing to pay hundreds of dollars for serums and creams espoused by the charismatic Sturm, who is not a dermatologist.
Whether or not you buy into the buzz surrounding Dr. Barbara Sturm, that the brand is an major addition to Puig's portfolio — which includes heavy-hitters like Byredo, Charlotte Tilbury, and Jean Paul Gaultier — is undeniable. Beauty industry nerds will also recognize the deal as a possible precursor to M&A interest in Augustinus Bader, another doctor-founded luxury skincare brand with a cult following.
Stay tuned.
