L’Oreal takes over the personal care brand, Aesop, which is currently valued at more than $2.5 billion.
French cosmetics and beauty company L’Oreal has officially signed an agreement to acquire the Aesop brand. This Australian luxury personal care firm is currently valued at more than $2.5 billion.
The skin, hair and body care company is known for using plant-based ingredients and sustainable vegan formulas. The iconic amber bottles and minimalist image give the brand a strong presence in the prestigious beauty world. Today, the brand operates worldwide: America, Europe, Australia, New Zealand and Asia. In fact, last year it opened its first store in China.
In a statement, Aesop’s parent company, Natura & Co. said the acquisition price will be paid in cash. Closing of the agreement is expected to take place during the third quarter of 2023. Nicolas Hieronimus, Chief Executive Officer of L’Oréal said in a statement: “Aesop is the epitome of avant-garde beauty, whose products are not only manufactured with great care and attention; they are an excellent combination of urbanity, hedonism and undeniable luxury.”
Aesop is the newest beauty brand to join L’Oréal’s Luxe division. division of L’Oréal . Previously, they joined the ranks of Lancôme , Yves Saint Laurent , Helena Rubinstein , Kiehl’s y Mugler .
“We have great confidence that Aesop will join the L’Oréal Luxe Billionaire brand club, and will therefore contribute significantly to the division’s growth in the coming years.”
Cyril Chapuy, presidente de L’Oreal Luxe
Prior to the current L’Oreal agreement, Natura and Aesop signed a definitive agreement in 2012. With this, Natura acquired a 65% stake in Aesop for US$ 48 million in cash. Aesop ‘s business has grown exponentially since then, recording sales of US$537 million last year.
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