The Korean cosmetics giant has announced the signing of a definitive agreement to acquire Tata’s Natural Alchemy, owner of the Tata Harper Skincare brand.
Since its creation in 2010, the brand has established itself as a pioneer in natural luxury skincare in the United States. Tata Harper uses 100% naturally derived ingredients without any genetically modified organisms (GMOs).
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.
The closing of the acquisition is expected to occur in early 4Q 2022. Tata Harper, the company’s co-founder, will continue to lead the brand.
Amorepacific said this move further signals the their intention to continue their penetration of global markets with a firm focus on consumers in North America. The Korean group intends to diversify its distribution channels in order to expand its business in to Americas and Europe, and to further broaden its presence in Asian markets.
"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 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 sales in North America jumped by 66% during the second quarter of 2022 year-on-year, led by global brands including Laneige, Sulwhasoo, and innisfree, among others. According to the group, this recent strong sales performance is backed by wider sales channels through brand stores and e-commerce and aggressive marketing of best-sellers for each of the respective brands, as well as successful collaborations with local influencers.