THE WHAT? AmorePacific has announced the acquisition of Tata Harper Alchemy for an undisclosed sum. The deal is expected to close in early Q4 2022. The brand’s eponymous Founder will continue to lead the brand.
THE DETAILS By diversifying its distribution channels, 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 will also enhance the profitability of Tata Harper by leveraging its scale and streamlining a variety of internal processes.
THE WHY? The purchase is part and parcel of the company’s strategy to build penetration of global markets with a firm focus on the US. Jinpyo Lee, Chief Strategy Officer at AmorePacific Group, commented, “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.”