Amorepacific has entered into a definitive agreement to acquire Tata Harper, a pioneer in natural luxury skincare.
WHO: Tata and Henry Harper founded the brand in 2010 in Vermont's Champlain Valley. Since its creation in 2010, Tata Harper has defined the luxury skincare category by strictly adhering to its core principle of clean beauty in everything from product development to packaging. The brand's mission of "beauty made without compromise" has enabled Tata Harper to develop and maintain a strong global fan base. The company uses 100% naturally derived ingredients without genetically modified organisms (GMOs), toxins, fillers, artificial colors/fragrances, or synthetic chemicals. With a primary focus on the US market, Tata Harper currently sells its products in 25 online stores, including Net-a-Porter, and Cult Beauty, as well as in over 800 brick-and-mortar retailers such as Sephora, Bluemercury, and Neiman Marcus.
Founded in 1945, Amorepacific has grown to be Korea's leading beauty company with its portfolio of over 20 cosmetics, personal care, and health care brands. Amorepacific is devoted to meeting the various lifestyles and needs of global consumers around the world: Asia, North America, Europe, Oceania, and the Middle East.
WHY: The acquisition of Tata Harper will be highly additive to Amorepacific's current offering. The deal will further strengthen Amorepacific's presence in the North American market, where its sales soared by 66 percent year on year in the second quarter of this year. Amorepacific will enhance the profitability of Tata Harper by leveraging its scale and streamlining internal processes.
IN THEIR OWN WORDS: "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," said Jinpyo Lee, Chief Strategy Officer at Amorepacific Group.
Co-founder and co-CEO Tata Harper commented, "Henry and I founded the brand on our farm in Vermont in our quest to develop a portfolio of products which will deliver efficacious results and a luxury experience without having to compromise your health. Our approach to formulation, including full control of manufacturing, has allowed us to pioneer the next generation of beauty. 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."
EMV: The popular natural skincare brand netted $2.5MM EMV in Q3, a slight 5% QoQ drop. Despite a 6% QoQ expansion of its creator community (716 influencers), declines in potency (11%) and post count (6%) held back Tata Harper’s overall progress. The brand also suffered from decreased activity amongst consistent advocates: while incoming creators matched the $1.3MM EMV driven in Q2 by creators who dropped off in Q3, brand fans who mentioned Tata Harper in both time periods fell from $1.4MM to $1.3MM QoQ. However, several advocates built upon their previous totals to drive additional EMV in Q3. For example, the brand’s No. 1 and No. 2 earners, Vogue US (@voguemagazine on Instagram) and Tieghan Gerard (@halfbakedharvest), boasted respective 293% and 295% QoQ improvements, closing Q3 with $143.5K and $141.2K EMV. While Vogue US gained traction from touting Tata Harper in a “Guide to Bold Eyeshadow” with Netflix star Maitreyi Ramakrishnan, Tieghan consistently tagged the brand in organic lifestyle and skincare content.
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