On August 31, L’Oréal announced that it had has completed the acquisition of luxury Australian beauty brand, Aēsop, in accordance with the terms announced on April 3. This marks a major transition in the beauty realm, in a transaction valued at USD $2.525 billion (AUD $3.72 billion).
“On behalf of L’Oréal, I am very excited to welcome Aēsop to the L’Oréal Groupe family,” said Nicolas Hieronimus, Chief Executive Officer, L’Oréal Groupe. “The Aēsop brand, with its unique combination of urbanity, hedonism and undeniable luxury, taps into all of today’s ascending currents. We look forward to building on the brand’s unique DNA and values, as we unleash its massive growth potential in China and beyond.”
“We are thrilled to have Aēsop join the L’Oréal Luxe Division and I look forward to welcoming Michael O’Keeffe and his passionate teams to the L’Oréal family, as we work together to write the next chapter of this iconic brand,” added Cyril Chapuy, President, L’Oréal Luxe. “We have great confidence that in time, Aēsop will join the L’Oréal ‘Billionaire Brands’ club and play a significant role in the future growth of the Luxury Division.”
The national brand is well known for its skin, hair and body products with signature amber packaging, plant-based ingredients, sustainable vegan formulations and tailored customer service. The brand began in 1987 and has since become available in 400 points of sale throughout the Americas, Europe, Australia, New Zealand, and Asia, with a sales posting of USD $537 million (AUD $791 million) in 2022.
“We are excited to begin this new chapter in the Aēsop story. I am confident that L’Oréal is the best partner to take Aēsop to the next level,” said Michael O’Keeffe, Chief Executive Officer, Aēsop. “With L’Oréal’s support and unparalleled expertise, we will continue to grow and innovate, reaching even more people and expanding our brand globally, while staying true to our values, building on our distinctive brand and heritage.”
For more information visit www.aesop.com
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