NPD says that a definitive agreement should be made in October, following compliance with Italian labour law procedures. The deal also means that, in a separate but related move, TNS Secodip, TNS' subsidiary in France, will exit the selective beauty tracking business in France, where NPD is already an established player.
Taylor Nelson Sofres (TNS) is an international provider of market information on a variety of industries, including automotive, packaged goods and technology. The shift away from the European selective beauty business will leave the business to focus on other core areas.
For NPD, the move also marks a crucial step towards establishing its international expansion strategy, for which Europe is currently a crucial element.
NPD says that following the acquisition, it will be able to offer an increasing amount of data encompassing sales, market share and pricing for the segment. The information is intended for use by retailers and manufacturers for development and marketing strategies, to negotiate product placement deals, measure their success and to ultimately help in decision making.
The group says it is planning to offer its complete product portfolio, currently available in France and the US, in Italy. NPD information includes item-level detail and monthly and weekly reporting.
"This is a step forward and paves the way for future expansion of our selective beauty business in Europe and Asia," said Andy Tarshis, president of NPD Europe.