PARIS – Spanish beauty and fashion company Puig has acquired a majority stake in the Dr. Barbara Sturm premium skin care brand.
The terms of the deal were not disclosed.
The German molecular cosmetics brand was founded in 2014 by Dr. Barbara Sturm, who is to retain a minority stake in the company. She will also remain to lead the brand’s product development, as chief product development officer and brand ambassador.
“We are very excited to welcome a brand of the caliber of Dr. Barbara Sturm to our house of love brands,” Marc Puig, chairman and chief executive officer of Puig, said n a statement.
“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,” he continued. “The new partnership reinforces Puig skin care segment and our presence in the U.S.”
Source: WWD