04.04.23
L’Oréal has acquired Aēsop, the Australian luxury beauty brand that is part of Natura &Co. The proposed transaction values Aēsop at an enterprise value of $2.525 billion. The brand will be part of L’Oréal Luxe.
Created in 1987, Aēsop is a global purveyor of skin, hair and body products, well known for its signature amber packaging, plant-based ingredients, sustainable vegan formulations, and bespoke customer service. The brand, which is available across luxury retail, beauty and hospitality locations around the world, currently operates around 400 points of sale across the Americas, Europe, Australia, New Zealand, and Asia, with a nascent footprint in China where the first store opened in 2022. The brand posted sales of $537 million in 2022.
Natura &Co's plans for Aēsop had been in flux for years. As recently as late 2022, it had mulled an IPO for the beauty and wellness brand.
“I am very excited to welcome Aēsop and its teams to the L’Oréal Groupe family. Aēsop is the epitome of avant-garde beauty, whose products are not only made with great care and exceptional attention to detail; they are a superb combination of urbanity, hedonism and undeniable luxury, said Nicolas Hieronimus, CEO, L’Oréal Groupe.
Hieronimus said taps into all of today’s “ascending currents” and he expects “L’Oréal will contribute to unleash its massive growth potential, notably in China and travel retail.”
According to Cyril Chapuy, president of L’Oréal Luxe, Aēsop holds a very unique positioning on the global luxury beauty market “thanks to its design led brand essence, its highly efficacious and sensorial products as well as its customer-obsessed retail philosophy.”
Aēsop’s CEO Michael O’Keeffe will move with the brand.
"This is an exciting day for Aesop. With the support of Natura &Co, over the past decade, we have built Aesop into an admirable global force in the luxury beauty space, with a powerful product proposition and a unique customer and retail experience," said O'Keefe in a statement. "We now enter the next phase of our development and I'm confident that with L'Oréal's partnership we will be able to bring our exceptional skincare products to even more people and continue to expand our brand globally. We thank Natura &Co for its support and are greatly looking forward to working with L'Oréal to continue our development, building on our distinctive brand and heritage."
"We have great confidence that Aēsop will join the L’Oréal Luxe Billionaire brands club and therefore contribute significantly to the growth of the Division in the years to come, added L'Oréal's Chapuy.
The closing is subject to certain regulatory approvals and other customary conditions.
Created in 1987, Aēsop is a global purveyor of skin, hair and body products, well known for its signature amber packaging, plant-based ingredients, sustainable vegan formulations, and bespoke customer service. The brand, which is available across luxury retail, beauty and hospitality locations around the world, currently operates around 400 points of sale across the Americas, Europe, Australia, New Zealand, and Asia, with a nascent footprint in China where the first store opened in 2022. The brand posted sales of $537 million in 2022.
Natura &Co's plans for Aēsop had been in flux for years. As recently as late 2022, it had mulled an IPO for the beauty and wellness brand.
“I am very excited to welcome Aēsop and its teams to the L’Oréal Groupe family. Aēsop is the epitome of avant-garde beauty, whose products are not only made with great care and exceptional attention to detail; they are a superb combination of urbanity, hedonism and undeniable luxury, said Nicolas Hieronimus, CEO, L’Oréal Groupe.
Hieronimus said taps into all of today’s “ascending currents” and he expects “L’Oréal will contribute to unleash its massive growth potential, notably in China and travel retail.”
According to Cyril Chapuy, president of L’Oréal Luxe, Aēsop holds a very unique positioning on the global luxury beauty market “thanks to its design led brand essence, its highly efficacious and sensorial products as well as its customer-obsessed retail philosophy.”
Aēsop’s CEO Michael O’Keeffe will move with the brand.
"This is an exciting day for Aesop. With the support of Natura &Co, over the past decade, we have built Aesop into an admirable global force in the luxury beauty space, with a powerful product proposition and a unique customer and retail experience," said O'Keefe in a statement. "We now enter the next phase of our development and I'm confident that with L'Oréal's partnership we will be able to bring our exceptional skincare products to even more people and continue to expand our brand globally. We thank Natura &Co for its support and are greatly looking forward to working with L'Oréal to continue our development, building on our distinctive brand and heritage."
"We have great confidence that Aēsop will join the L’Oréal Luxe Billionaire brands club and therefore contribute significantly to the growth of the Division in the years to come, added L'Oréal's Chapuy.
The closing is subject to certain regulatory approvals and other customary conditions.