L’Oréal completes acquisition of Aesop

Global beauty group L’Oréal has completed the acquisition of Australian luxury skincare brand Aesop from Natura & Co.

The deal, first announced in April, will see Aesop joining the L’Oreal Luxe Division, which includes brands such as Lancôme, Yves Saint Laurent and Giorgio Armani, as the beauty group looks to take the Australian brand “to the next level”.

Nicolas Hieronimus, chief executive officer at L’Oréal Groupe, said in a statement: “I am very excited to welcome Aesop to the L’Oréal Groupe family. The Aesop 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.”

Michael O’Keeffe, chief executive officer at Aesop, added: “We are excited to begin this new chapter in the Aesop story. I am confident that L’Oréal is the best partner to take Aesop to the next level.

“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.”

Aesop was founded in 1987 by Australian hairstylist Dennis Paphitis and offers skin, hair, body and home products utilising organic and natural ingredients.