Korean cosmetics giant, Amorepacific announced today that it has entered into a definitive agreement to acquire Tata’s Natural Alchemy.
Amore Pacific continues its momentum with the acquisition of Tata Harper, with plans to continue its penetration of global markets with a strong focus on North American consumers. The acquisition is expected to close early in the fourth quarter of 2022 and Tata Harper, the company’s eponymous co-founder, will continue to lead the brand. “I look forward to leveraging Amorepacific’s expertise to drive global growth and continue to serve our consumers, who rely on Tata Harper for the best skin care results.” she enthuses.
Vermont-based Tata Harper was launched in 2010 by Tata Harper and her former husband Henry Harper. The company currently sells its products in 25 online stores and more than 800 physical retailers such as Sephora, Bluemercury and Neiman Marcus. With a growing base of affluent, health-conscious consumers increasingly turning to natural and environmentally friendly cosmetics, the brand has found its audience over the past decade.
Over the past few years, Tata Harper has attracted interest from other potential buyers, without a definitive agreement. The brand finally decided to enter into a deal with Amorepacific because of its R&D capabilities and global reach, especially in Asia, where the luxury brand is trying to gain a customer base.
Amorepacific, meanwhile, has been on a growth spurt in North America, with sales in the region jumping 66 percent in the second quarter of 2022 compared to the 2021 period.
“Tata Harper is a clean beauty brand infused with the core values of healthy beauty – values that society and consumers are seeking today. With Amorepacific’s excellent R&D and P&L infrastructure, we believe Tata Harper will be able to significantly expand its presence in the Western and Asian markets,” said Jinpyo Lee, Amorepacific’s group strategy director.
Read also > Cosmetics : Pier Augé plans to enter China after an agreement with S’Young Group
Featured photo : © Tata Harper
