10.19.22
Natura & Co., No. 8 on Happi's International Top 30 list, said Monday that it has initiated the study of a possible initial public offering of Aesop, its luxury beauty and wellness brand and business unit, in the US or a spin-off of Aesop. That could then be followed by an IPO. The move comes less than a month after Natura executives denied rumors that The Body Shop, another subsidiary, is for sale.
“The IPO has been assessed over the last months as an alternative to fund the accelerated growth of Aesop, and Natura & Co.’s management has been taking the necessary steps to pursue such [an] alternative,” Natura wrote in an October 17 statement on its website.
“This strategy is also aligned with Natura & Co.’s goal to provide its brand and business units with increased autonomy and accountability,” the company added.
The move was approved by Natura’s shareholders and its board of directors on Monday.
But whether or not an IPO takes place, Aesop’s business will remain led by Michael O’Keefe, the brand’s chief executive officer, through a holding company to be listed in the US. That would also hold Aesop’s subsidiaries. For now, Aesop remains a subsidiary of Natura Cosméticos.
“The IPO has been assessed over the last months as an alternative to fund the accelerated growth of Aesop, and Natura & Co.’s management has been taking the necessary steps to pursue such [an] alternative,” Natura wrote in an October 17 statement on its website.
“This strategy is also aligned with Natura & Co.’s goal to provide its brand and business units with increased autonomy and accountability,” the company added.
The move was approved by Natura’s shareholders and its board of directors on Monday.
But whether or not an IPO takes place, Aesop’s business will remain led by Michael O’Keefe, the brand’s chief executive officer, through a holding company to be listed in the US. That would also hold Aesop’s subsidiaries. For now, Aesop remains a subsidiary of Natura Cosméticos.