Puig enters molecular cosmetics with the acquisition of the Dr. Barbara Sturm brand

Puig has started 2024 with a new acquisition that allows it to advance in its growth plan in the dermo-cosmetics business, one of the company's major bets. The Barcelona-based family holding announced this Thursday the purchase of a majority stake in the German company Dr. Barbara Sturm Molecular Cosmetics, an operation that allows it to enter molecular cosmetics and position itself in the highest segment of the market and in luxury spas.

The founder of the German brand, Dr. Barbara Sturm, will retain a minority stake and will remain in charge of product development, in addition to acting as brand ambassador. "Partnering with Puig means a union of shared values, including curiosity, entrepreneurial spirit, and a strong commitment to innovation, product, and knowledge," highlighted the businesswoman, who created the brand in 2014.

According to Puig, Dr. Barbara Sturm will strengthen the group's competitive position in the skincare segment, with a "globally recognized" luxury brand developed through its digital channels and its international network of spas and boutiques. "We are excited to welcome a brand of the caliber of Dr. Barbara Sturm to Puig. With the incorporation of its scientific approach to skincare and its highly effective treatments, we take another important step to expand our position in the premium skincare segment," said Marc Puig, executive chairman of the multinational based in Plaza Europa in L'Hospitalet.

Puig emphasizes that its objective is to "boost the international expansion and development" of the Dr. Barbara Sturm brand, expanding its network of spa-boutiques. Currently, the firm has seven such establishments in cities like Düsseldorf, London, New York, Miami, Dallas, and Los Angeles and also wants to expand to Asia, with centers in Jakarta and Singapore. Throughout its trajectory, the firm has developed more than 300 products and more than 5,000 skincare routines. It markets products for the face, body, and hair, as well as supplements.

"Puig has a proven track record of competitive and disruptive entrepreneurial focus; by leveraging their experience in developing and fostering the global success of their beauty brands, we are poised to introduce our skincare products to a wider audience. This alliance will drive us to continuously push boundaries, create highly effective treatments, and enhance the skincare experience," added the founder.

Dr. Sturm specialized her medical career in orthopedics and is a specialist in anti-inflammatory treatments. Specifically, she pioneered the use of the body's own proteins and healing factors to stop the inflammatory process and help heal joint tissue. It was then, in 2002, that she transferred her experience to the field of aesthetics by launching MCX, a platelet-rich plasma facial treatment, a technique now globally known as the blood facial. She also created MC1, a plasma-based moisturizer. Finally, in 2014, she decided to create her own cosmetic company after realizing she couldn't find suitable products on the market for her patients for "science-based skincare."

20 years ago, Puig only operated in one of the three areas that make up the beauty world, perfumery, while it had no presence in dermo-cosmetics —where the bulk of the business lies— and in makeup. Today, this situation is completely different, as in 2020 it made a grand entrance into the makeup market with the acquisition of the British brand Charlotte Tilbury and in 2021 it integrated the Uriage and Aptivita brands, which had been previously acquired by the Exea holding company. Through Exea, the family also owns 50% of another reference brand in the pharmacy cosmetics sector, Isdin, which is not included in Puig's turnover; the other 50% belongs to the pharmaceutical company Esteve.

This strategy, along with the acquisition of niche perfumery brands such as Kama Ayurveda (India), Loto del Sur (Colombia), and Byredo, have allowed Puig to make a strong leap in scale in the global beauty business. Thus, two decades ago the group controlled only 3% of the global selective distribution fragrance business and set the goal of reaching a market share of 10%, a goal that was achieved in 2022, the year in which it recorded the best results in its history.

Specifically, the company that owns Carolina Herrera, Nina Ricci, Paco Rabanne, and Jean Paul Gaultier reached record sales of 3.62 billion euros in 2022, up 40%. This figure means having doubled turnover in just two years (in 2020 it earned 1.537 billion) and having far exceeded its plan to reach revenues of 3 billion in 2023 a year earlier than expected. "At this rate, we now see the goal of reaching 4.5 billion in 2025 as easier," Marc Puig announced last March.