Amorepacific eyes US luxury clean skincare market with Tata Harper acquisition
02 Sep 2022 --- Amorepacific has moved to acquire Tata Harper, aiming to grow within the luxury skincare sector in the US with focus on cleaner formulations and greener packaging.
“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 R&D and P&L infrastructure, we expect Tata Harper will be able to expand its footprint in the Western and Asian markets significantly,” says Jinpyo Lee, chief strategy officer at Amorepacific Group.
Tata Harper uses 100% naturally derived ingredients free from genetically modified organisms, toxins, fillers, artificial colors, fragrances and synthetic chemicals.
The acquisition is expected to close in early fourth quarter of 2022. Tata Harper, the company’s co-founder, will continue to lead the brand.
Tata Harper uses 100% naturally derived ingredients free from GMOs, toxins, fillers, artificial colors, fragrances and synthetic chemicals.
Scaling profit and competition
The acquisition of Tata Harper is expected to “be highly additive” to Amorepacific’s current offering. Amorepacific is aiming to diversify its distribution channels while realigning strategies to broaden its presence in Asian markets.
Amorepacific will continue to promote its flagship product categories while boosting product competition through joint research and adding new categories. The company also intends to scale Tata Harper’s profitability by streamlining various internal processes.
Reportedly, Amorepacific jumped by 66% year-on-year in North American sales, according to its recent 2Q 2022 earnings release. This was led by its brands Laneige, Sulwhasoo and Innisfree, among others.
Laneige was ranked as the most widely sold beauty and personal care brand.
The sales performance is backed by brand stores and e-commerce, marketing of best-sellers for each brand and collaborations with local influences for higher brand awareness.
The Harper story
Henry and Tata Harper, co-founders and co-CEOs, shared that they founded the brand on their farm in Vermont to develop products that can deliver efficacious results and a luxury experience without compromising health.
“Our approach to formulation, including full control of manufacturing, has allowed us to pioneer the next generation of beauty,” says Tata Harper.
“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.”
Tata Harper focuses on the US market and sells its products in online stores, on its website, and in over 800 brick-and-mortar retailers.
Edited by Venya Patel
