Puig acquires Dr. Barbara Sturm
Spanish fashion and beauty group Puig has acquired Dr. Barbara Sturm, strengthening its investment in the premium skincare market.
Dr. Barbara Sturm joins Puig's existing portfolio of brands, including Carolina Herrera, Byredo, Penhaligon's, Kama Ayurveda and Dries Van Noten, amongst others.
Marc Puig, Chairman and Chief Executive Officer at Puig, said: "We are very excited to welcome a brand of the caliber 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."
German aesthetics doctor Dr. Barbara Sturm began her medical career in orthopedics as part of the team that developed cutting-edge treatments for inflammatory conditions.
In 2002, she created her famous MC1 cream - a bespoke, plasma-based moisturiser which "harnesses the power of the body's own proteins in a skin healing formula".
Building on her platform of product performance and innovation, Dr. Sturm launched a full skincare range in 2014 - introducing an anti-inflammatory collection, called Molecular Cosmetics.
Today, the brand is known for its portfolio of skincare, haircare and supplements, with bestsellers such as a Cleanser, Hyaluronic Serum, Super Anti-Aging Serum, and Face Cream.
It also operates various Spa & Boutiques worldwide, including London, New York, Miami and LA, which are home to its high-performance treatments and serve as education hubs for patients.
Speaking about the acquisition, Dr. Sturm said: "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."
The move follows the success of premium beauty at a number of global beauty groups, including the recent acquisition of Dr. Dennis Gross Skincare by Shiseido and a boost in sales at Coty thanks to its prestige division reporting "strong" momentum.
It is also one of the fastest-growing business areas at Unilever.
Other groups such as Procter & Gamble and Beiersdorf are also among the firms investing in the segment, with the previous acquisitions of Tula Skincare and Chantecaille, respectively.