Korean cosmetics giant to acquire Tata Harper
Amorepacific is to acquire the Tata Harper luxury clean beauty brand for an undisclosed sum.
With the deal expected to complete in the fourth quarter of 2022, Amorepacific said the acquisition will help it to expand its business to the Americas and Europe by diversifying its distribution channels.
Tata Harper currently sells its products in 25 online stores, including its own direct-to-consumer website, Net-a-Porter and Cult Beauty. Its products also have listings in over 800 brick-and-mortar stores such as Sephora, Bluemercury and Neiman Marcus.
Tata Harper received a minority investment from Alliance Consumer Growth in 2015.
Jinpyo Lee, chief strategy officer at Amorepacific Group, said: “Tata Harper is a clean beauty brand instilled with the core values of healthy beauty – values that society and consumers are looking for today. Fuelled 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.”
