Yes, it’s true the “Kose Buys Tarte Cosmetics” rumors are indeed true. WWD announced yesterday that Japan’s Kose company has purchased a 93.5% stake in Tarte Cosmetics. You might recognize the Kose name from brands like Visee, Cosme Decorte, Softymo, Happy Bath Day, etc….all Japanese brands I have featured and reviewed on Musings of a Muse before. Kose actually purchased a majority of the company including Tarte’s founder Maureen Kelly’s shares. This is Kose’s first breach into the US market so it could potentially be an exciting one although considering the Japanese’s stance on animal testing one might wonder how this will be effect Tarte’s own animal testing policy. Tarte’s existing management will remain in place so this could mean very little change. Tarte’s growth has been tremendous in recent years and is it any wonder considering the excellent QVC value sets they release as well as many fantastic new products released seasonally. This could potentially mean an even bigger growth for the brand with Kose backing them as Kose brings a good deal to the table as well in this venture. This could also potentially mean Tarte will be open to the Asian market as well. I know many friends in M’asia, Japan, and Singapore who really adore the brand but haven’t exactly at an easy means of getting it. There isn’t any word of course, if and when Tarte would be sold in Asia but again, with their stance on animal testing it is hard to say if this deals means they’ll break into the Asia market or not. Update: As mentioned by many readers Singapore and Malaysia started getting Tarte earlier last year! Thanks for this info! Update: Today Tarte shared their official press release are Kose’s purchase which you can read below. Their stance on Animal Testing remains the same as you’ll find out below so there likely won’t be a lot of changes as Kose moves forward and management, as mentioned above, stays in place. NEW YORK, March 17, 2014—tarte™, Inc., a privately held, high-performance natural™ prestige beauty company, today announced an agreement to be acquired by KOSÉ Corporation. The deal is expected to close April 2014, pending legislative clearance in the United States and other customary closing conditions. “It’s been an amazing ride, from the little venture I started in my bedroom 15 years ago to the global powerhouse we’re privileged to now join,” said Maureen Kelly, Founder and CEO of tarte. “Our vision throughout has been to create beauty products that are ‘healthy treats for your skin,’ foster the highest level of customer service and give back to the community and the environment. By joining the KOSÉ family and adding to that rich portfolio, we can build on what we’ve already accomplished with powerful products targeted at new markets.” The eco-chic beauty line from tarte is infused with ingredients such as superfruits, plant extracts, vitamins, minerals and other naturally derived ingredients, and all products are formulated without parabens, mineral oil, phthalates, triclosan, sodium lauryl sulfate and gluten. The company’s blushes, LipSurgence™ lip tints, Amazonian clay and maracuja-infused complexion products have won a broad following and industry awards. The company has steadily increased its market presence over the years and received a boost through an investment in 2010 from Encore Consumer Capital, a San Francisco-based private equity firm focused specifically on consumer products companies. Since then, tarte has significantly expanded its footprint throughout North America open-sell environments and specialty distribution channels with market-leading retailers such as Sephora, Sephora Inside JCPenney, Ulta, QVC and Macy’s Impulse. tarte has also grown its international presence with Sephora South East Asia and QVC UK. Following the closing, KOSÉ and tarte will develop a comprehensive integration plan to incorporate tarte into the KOSÉ family. The senior executive team including Ms. Kelly, Scott McDonough, General Manager, Heather Hemsley, Vice President of Finance, and Candace Craig Bulishak, Vice President of Branding will continue to lead the organization, as well as play key roles to draw strength from the parent company and ensure the continued success of tarte. The brand will keep its headquarters in the New York, New York office. What do you think of this news?
Posted on: Wed, 19 Mar 2014 07:20:05 +0000
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