Procter & Gamble buys yet another prestige beauty brand; acquisition of Tula Skincare is third deal in as many months

Procter & Gamble buys yet another prestige beauty brand; acquisition of Tula Skincare is third deal in as many months

THE WHAT? Procter & Gamble is set to buy Tula Skincare, its third such acquisition in the space of three months, according to a report published by WWD. Terms of the deal were not disclosed.

THE DETAILS The superfood-based line is said to have bought in US$150 million in sales last year. The US FMCG giant will add the wellbeing brand to its existing, and fast-growing prestige portfolio, which includes SK-II, First Aid Beauty, Ouai hair care and Farmacy Beauty.

THE WHY? Markus Strobel, President of Global Skin and Personal Care at P&G told WWD, “When we look at our beauty strategy, we want to win in beauty in the categories we choose to play in – skin, hair and personal care, categories where the clinical performance of the products make a difference. We want to win in the industry – in different channels and segments. Wherever we feel that there is a gap in our portfolio, then we want to close it.

“The prestige beauty channel is growing double digits so it is a channel where we want to have a stronger presence with a tight portfolio. A portfolio that covers the key benefit spaces that we feel will be growing in the future.”

IN CONVERSATION WITH...

FORMULA FRIDAY

STREET TALK

60 SECOND PITCH

WELLNESS

FASHION

TRAVEL

PROFESSIONAL BEAUTY

TOP 50 BRANDS