09.02.22
Korean beauty giant Amorepacific, No. 12 in Happi's 2022 International Top 30 Report, has entered into a definitive agreement to acquire Tata's Natural Alchemy, a pioneer in natural luxury skincare.
The deal signals the company's intention to further penetrate global markets with a firm focus on consumers in North America.
The closing of the acquisition is expected in early 4Q 2022. Tata Harper, the company's co-founder, will continue to lead the brand.
Launched in 2010, Tata Harper is a clean beauty brand with a primary focus on the US market. It 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.
Amorepacific said it 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.
"Henry and I founded the brand on our farm in Vermont in our quest to develop a portfolio of products which will deliver efficacious results and a luxury experience without having to compromise your health. Our approach to formulation, including full control of manufacturing, has allowed us to pioneer the next generation of beauty,” co-Founder and co-CEO Harper said in a statement. “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.”
Amorepacific Group continues to post high growth in North America. According to its 2Q 2022 earnings release, sales in North America rose by 66% year-on-year, led by global brands including Laneige, Sulwhasoo, and innisfree, among others.
UBS Investment Bank and K&L Gates acted as Amorepacific's financial and legal advisors, respectively. Goldman Sachs & Co. LLC and Arnold & Porter acted as Tata Harper's financial and legal advisors, respectively.
The deal signals the company's intention to further penetrate global markets with a firm focus on consumers in North America.
The closing of the acquisition is expected in early 4Q 2022. Tata Harper, the company's co-founder, will continue to lead the brand.
Launched in 2010, Tata Harper is a clean beauty brand with a primary focus on the US market. It 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.
Growing Globally
By diversifying its distribution channels with Tata Harper, the Korean cosmetics giant will expand its business to the Americas and Europe, while realigning strategies to further broaden its presence in Asian markets.Amorepacific said it 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.
"Henry and I founded the brand on our farm in Vermont in our quest to develop a portfolio of products which will deliver efficacious results and a luxury experience without having to compromise your health. Our approach to formulation, including full control of manufacturing, has allowed us to pioneer the next generation of beauty,” co-Founder and co-CEO Harper said in a statement. “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.”
Amorepacific Group continues to post high growth in North America. According to its 2Q 2022 earnings release, sales in North America rose by 66% year-on-year, led by global brands including Laneige, Sulwhasoo, and innisfree, among others.
UBS Investment Bank and K&L Gates acted as Amorepacific's financial and legal advisors, respectively. Goldman Sachs & Co. LLC and Arnold & Porter acted as Tata Harper's financial and legal advisors, respectively.