Tata Harper Skincare, the Vermont-based natural beauty company founded in 2007 by wife and husband team Tata and Henry Harper, has a new minority investor: Alliance Consumer Growth.
ACG, a private equity fund that provides growth capital to emerging brands, currently also holds minority shares in infant-focused personal-care brand Babyganics, The Honest Kitchen, Kriser’s Natural Pet and Shake Shack, among others.
“We’ve been looking for a beauty investment for a long time, and Tata Harper’s line hit every one of our criteria,” said Julian Steinberg, managing partner of ACG. “It is an aspirational luxury brand that’s also 100 percent nontoxic and efficacious. The products are made in small batches and use botanical ingredients the founders grow themselves. The brand is already resonating strongly with consumers and retailers nationwide, and we believe it has significant runway for growth.” The brand’s existing retailers include Neiman Marcus and Sephora.
Steinberg declined to discuss the financial specifics, but is thought to have invested anywhere from $5 million to $15 million in the brand.
“After speaking to many potential investors, we realized ACG was the ideal partner,” said Tata Harper, co-chief executive officer of the brand which bears her name. Added co-ceo Henry Harper: “Their support for our brand vision is a key ingredient for us to realize our full potential.”
And Steinberg isn’t ruling out additional beauty investments. “We are absolutely always looking,” he said. “The truly phenomenal lifestyle brands that are resonating with everyone — especially Millennials — are all being created by entrepreneurs and then being acquired by major corporations. All of the innovation is coming from entrepreneurs.”