Puig withdraws Charlotte Tilbury make-up spray, shares slump

(Sharecast News) - Puig shares slumped on Friday after the Spanish fashion and beauty company said a batch of Charlotte Tilbury make-up spray was being withdrawn from the market due to a quality issue. The company said it was conducting a "global voluntary withdrawal" of selected batches of the Airbrush Flawless Setting Spray after routine testing found "an isolated quality issue in a limited number of batches which, in any event, does not make the product unsafe".

Puig - which also owns Jean-Paul Gautier, Paco Rabanne and Carolina Herrera - said the withdrawal will impact the financial performance of its make-up segment, but there will be no material impact on the overall performance for the year.

Puig said the issue affects the 34ml and 100ml bottles of the Flawless spray, although it did not provide any details about the quality problem.

At 1330 GMT, Puig shares were down 4% at €18.90.