Procter & Gamble is buying Tula Skincare for an undisclosed amount. According to industry observers, Tula had sales of $150 million last year. The acquisition is P&G’s third in just two months and underscores the CPG giant’s focus on prestige beauty. In November, P&G purchased Farmacy Beauty. Last month, P&G acquired Ouai, a haircare company.
The three acquisitions bolster P&G’s existing prestige brand portfolio, which already includes SK-II and First Aid Beauty. Clearly, the maker of Olay is ready to take on competitors like L’Oréal, Estée Lauder , and Unilever in the prestige beauty space.
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