L’Oréal has announced that it has concluded the acquisition of Aesop, the prestigious Australian luxury beauty brand. The purchase is valued at $2.53 billion and was first announced in April. Aesop is internationally known for its luxurious skin, hair, and body care products. It has 400 points of sale around the world, in the US, Europe, Australia, New Zealand and Asia.
The brand has recorded sales of $537 million in 2023 and is also expected to be marketed in Israel in the future. “I am very excited to welcome Aesop to the L’Oréal family,” said Nicolas Hieronimus, CEO of L’Oréal Group. “The Aesop brand, with its unique combination of urbanity, hedonism, and undisputed luxury, taps into all current trends.
We look forward to building on the brand’s unique DNA and values, leveraging its tremendous growth potential in China and beyond.”
Michael O’Keefe, CEO of Aesop, said: “L’Oréal is the best partner to take the brand to the next level.” He believes L’Oréal’s support and expertise will help the brand grow, innovate, and reach more people worldwide.
“We are delighted to have Aesop join L’Oréal’s Luxe Division,” said Cyril Chapoy, Division President. “We have great confidence that in time, Aesop will join the L’Oréal’ Billionaire Brands’ club and play a significant role in the future growth of the Luxury Division.”