The company recorded a 38% increase in turnover, reaching £310.3 million. Although the gross margin remained steady at 62%, pre-tax profit saw a substantial rise of 30.6% to £10.5 million, and EBITDA increased by 29.1% to £11.7 million.
Charlotte Tilbury attributed its turnover growth to robust performance in the UK market and significant expansion in the European, Middle Eastern, and Australian markets, both in physical stores and online. The company emphasized the strength of its product portfolio across key categories, including complexion, color, and skincare. Significant product innovations, such as the introduction of the Beautiful Skin product franchise featuring foundation, concealer, and bronzer, contributed to its success.
The outstanding performance was not solely attributed to new product launches. Existing product franchises with significant market presence, such as Magic Cream, Airbrush Flawless Finish, and Pillow Talk, also played a pivotal role in driving growth. Charlotte Tilbury bolstered brand authority and awareness through celebrity collaborations, major media campaigns, and takeover events, particularly during festive seasons such as Eid and Lunar New Year.
The company made substantial investments in digital initiatives, including the launch of Foundation Finder, shoppable masterclasses, virtual consultations, and the introduction of a metaverse virtual store. Furthermore, Charlotte Tilbury expanded its workforce, with employee numbers increasing from 576 at the end of 2021 to 706 by December 2022. These results underscore the brand’s continued success and expansion in the competitive beauty industry.
