TOKYO — Japan’s Kosé Corp. said Monday it is buying a 93.5 percent stake in New York-based Tarte Cosmetics for $135 million, giving the Japanese company a foothold in the U.S. market.
Kosé is buying out Encore Consumer Capital’s entire stake in the American beauty firm, a mainstay on QVC, as well as most of Tarte founder Maureen Kelly’s shares. Kosé said Tarte’s existing management will remain in place. Encore Consumer Capital is a San Francisco-based private equity investment firm focused on the consumer products industry.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"