09.01.22
Korean cosmetics giant Amorepacific has entered into a definitive agreement to acquire Tata's Natural Alchemy, LLC (Tata Harper), a pioneer in natural luxury skincare, in a move that further signals the company's intention to continue its penetration of global markets with a firm focus on consumers in North America.
With a primary focus on the U.S. market, Tata Harper currently sells its products in 25 online stores, including its own direct-to-consumer website, Net-a-Porter, and Cult Beauty, as well as in over 800 brick-and-mortar retailers such as Sephora, Bluemercury, and Neiman Marcus. Tata Harper received a minority investment from Alliance Consumer Growth in 2015.
"Tata Harper is a clean beauty brand instilled with the core values of healthy beauty - values that society and consumers are looking for today. Fueled by Amorepacific's top-notch R&D and P&L infrastructure, we expect Tata Harper will be able to significantly expand its footprint in the Western and Asian markets," said Jinpyo Lee, chief strategy officer at Amorepacific Group.
Co-founder and co-CEO, Tata Harper, commented, "I look forward to leveraging Amorepacific's expertise to drive global growth and continue to serve our consumers, who rely on Tata Harper to deliver the most results from their skincare."
The closing of the acquisition is expected to occur in early 4Q 2022. Harper, the company's co-founder, will continue to lead the brand.
About Tata Harper
Since its creation in 2010, Tata Harper has strictly adhered to its core principle of clean beauty in everything from product development to packaging. The company uses 100% naturally derived ingredients without any genetically modified organisms (GMOs), toxins, fillers, artificial colors / fragrances, or synthetic chemicals.With a primary focus on the U.S. market, Tata Harper currently sells its products in 25 online stores, including its own direct-to-consumer website, Net-a-Porter, and Cult Beauty, as well as in over 800 brick-and-mortar retailers such as Sephora, Bluemercury, and Neiman Marcus. Tata Harper received a minority investment from Alliance Consumer Growth in 2015.
"Tata Harper is a clean beauty brand instilled with the core values of healthy beauty - values that society and consumers are looking for today. Fueled by Amorepacific's top-notch R&D and P&L infrastructure, we expect Tata Harper will be able to significantly expand its footprint in the Western and Asian markets," said Jinpyo Lee, chief strategy officer at Amorepacific Group.
Further Penetrating New Markets
The acquisition of Tata Harper will be highly additive to Amorepacific's current offering. By diversifying its distribution channels, Amorepacific will expand its business to the Americas and Europe, while realigning strategies to further broaden its presence in Asian markets. Amorepacific will continue to promote flagship product categories through intensive marketing activities, while simultaneously boosting product competitiveness through joint research and expanding new categories. Amorepacific will also enhance the profitability of Tata Harper by leveraging its scale and streamlining a variety of internal processes.Co-founder and co-CEO, Tata Harper, commented, "I look forward to leveraging Amorepacific's expertise to drive global growth and continue to serve our consumers, who rely on Tata Harper to deliver the most results from their skincare."
The closing of the acquisition is expected to occur in early 4Q 2022. Harper, the company's co-founder, will continue to lead the brand.
