P&G has continued to build its prestige beauty business, following its acquisitions of Farmacy in November 2021 and Ouai in December 2021, with the purchase of Tula, per WWD. Terms of the deal were not disclosed.
Last year, the company also entered into sustainable collaborations with Cloverly and Terracycle.
Tula has fared well throughout the pandemic by adapting to new consumer engagement strategies. As CEO Savannah Sachs noted in Global Cosmetic Industry, "As a fast-growing skin care brand, we learned that it is important to adapt our products to the ever-changing needs of our customers. And, while a pandemic brings feelings of fear and unforeseen challenges, it can also be an opportunity to try new things and develop key learnings that will make your brand stronger in the future."