Amorepacific Group held an online ceremony to mark its 77th anniversary on Sept. 2, in which Chairman Suh Kyung-bae delivered talked about opening a future of beauty for evolving customers and the world.”
Amorepacific Group was established on Sept. 5, 1945, based on the founder’s management tenant of contributing to human beings with beauty and health.
The group has grown into Korea’s representative beauty company.
Amorepacific became the first Korean company to establish a cosmetics R&D center and export homemade cosmetics products and offer excellent products.
The company has explored diverse global markets since the 2000s and has been devoting itself to promoting ESG management to fulfill its responsibilities as a corporate citizenship.
In his speech, Chairman Suh said, “Now is the time to attach a yardstick for judging values on customers and redefining and readjusting businesses.”
“We have to pursue endless communication so Korean and foreign customers can enjoy life they want to do at an era of unlimited potential surpassing national and regional boundaries,” Chairman Suh said.
Chairman Suh called for the company to continue to make efforts to “make people and the world beautiful based on the spirit of the times ‘New Beauty,’ expanding our viewpoint to the whole daily life of customers and approaching customers using digital and data technologies and sharing difficulties facing customers and the world.”
Suh also called for reflection on the paths Amorepacific Group has taken, and reminding of a possibility of beauty and continuing efforts to make the world a beautiful space.
Amorepacific Group, celebrating the anniversary, is conducting the online “Beautifullog Challenge” to share records on the daily life by all members across the globe and congratulating long-time serving executives and staff members.
An image view of major products, released by the luxury clean beauty brand Tata Harper. (Photos: Amorepacific)
Amorepacific Announces Acquisition of Luxury Clean Beauty Brand Tata Harper
Amorepacific today announced that it has entered into a definitive agreement to acquire Tata’s Natural Alchemy, LLC, a pioneer in natural luxury skincare, in a move that further signals the company’s intention to continue its penetration of global markets with a firm focus on consumers in North America.
The closing of the acquisition is expected to occur in early 4Q 2022. Tata Harper, the Company’s co-founder, will continue to lead the brand.
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 any genetically modified organisms (GMOs), toxins, fillers, artificial colors / fragrances, or synthetic chemicals.
“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 Lee Jin-pyo, Chief Strategy Officer at Amorepacific Group.
The acquisition of Tata Harper will be highly additive to Amorepacific’s current offering.
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 continue to promote flagship product categories through intensive marketing activities, while simultaneously boosting product competitiveness through joint research and expanding new categories.
Amorepacific will also enhance the profitability of Tata Harper by leveraging its scale and streamlining a variety of internal processes.
As a global beauty company, Amorepacific Group continues to post high growth in North America, thanks to the recent diversification of its global businesses.
According to the 2Q 2022 earnings release, sales in North America jumped by 66% year-on-year, led by global brands including LANEIGE, Sulwhasoo, and Innisfree, among others.
_아모레 77주년 .jpg)
_아모레 타타하퍼인수.jpg)
