Aesop
2023 - 4 - 4
Aesop sold to L'Oreal in record $3.7 billion deal (The Australian Financial Review)
The sale of the Melbourne-based skincare group is the largest for any luxury brand in Australia.
L’Oreal was a founding member of the venture alongside Unilever and Kao. The brand has evolved into a global super brand available across luxury retail, beauty, and hotels and restaurants. [sold 65 per cent of the business to Natura for $US68 million](https://www.afr.com/companies/financial-services/brazil-s-natura-buys-skincare-group-aesop-for-68m-20121220-jidyc) in 2012. The Brazilian company bought the rest for an undisclosed figure in 2016. It said it entered a binding agreement with the buyer on April 3. The brand posted sales of $US537 million in fiscal 2022.
L'Oreal snaps up Australian skincare brand Aesop in record $3.7 ... (The Sydney Morning Herald)
L'Oreal has swooped in for the Australian luxury brand, which was founded by Melbourne hairdresser Dennis Paphitis in 1987.
Known for its natural, ethically sourced cosmetics, Sao Paulo-based Natura faced a hard time trying to expand globally, with disruptions brought on by the pandemic and Russia’s war in Ukraine leading to cost-inflation pain. The brand was increasingly seen by investors as the crown jewel of the Natura & Co group, deriving the highest profit margins while other businesses including Avon and Body Shop grew at a slower pace. Founder Paphitis stepped away from the helm of the business to take on an executive advisory role to the board. The brand has amassed a cult following for its minimal aesthetic, amber colour, simple but bold typography design, and an unhurried approach to product launches. He moved onto skincare and eventually stepped away from his salon to focus on his growing cosmetics business. The first Aesop store opened in Melbourne’s St Kilda in 2004.
Natura &Co sells Aesop to L'Oréal (PRNewswire)
PRNewswire/ -- Natura &Co (NYSE – NTCO; B3 – NTCO3) announces that it has reached an agreement under which L'Oréal will acquire Aesop, opening a new chapter ...
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. Founded in 1969, Natura is a Brazilian multinational in the cosmetics and personal care segment, leader in direct sales. Aesop taps into all of today's ascending currents and L'Oréal will contribute to unleash its massive growth potential, notably in China and Travel retail." We are proud of the remarkable success of the Aesop brand, and we are extremely grateful to all Aesop's associates, who contributed immensely not only to Aesop's success, but also to making Natura &Co what it is today. Under the transaction, L'Oréal has signed an agreement to acquire Aesop for an enterprise value of US$ 2.525 bn. Nicolas Hieronimus, Chief Executive Officer of L'Oréal Groupe, said, "I am very excited to welcome Aesop and its teams to the L'Oréal Groupe family.
L'Oréal to acquire Aesop in $2.5 billion deal (Vogue Business)
The Australian cosmetics brand, currently owned by Natura & Co, had drawn interest from multiple potential buyers.
The company reported a 10.8 per cent drop in revenue in the fourth quarter of 2022 to BRL 10.4 billion ($2 billion). “The disposal of Aesop marks the start of a new development cycle for Natura & Co. [which will sell to beauty licensee holder Estée Lauder Companies](https://www.voguebusiness.com/companies/estee-lauder-acquires-tom-ford-in-dollar28-billion-deal) for $2.8 billion pending approvals. M&A in beauty has shown no signs of letting up in 2023 following several high-profile deals last year, and Aesop’s valuation of $2.5 billion underscores how much companies are willing to pay to stay competitive. Natura & Co took over Aesop in 2013 when it acquired a 65 per cent stake of then-parent company Emeis Holdings. Aesop reported $537 million in sales in 2022.
L'Oréal buys Australian luxury cosmetics group Aesop in $2.5bn deal (Financial Times)
Brazil's Natura divests to cut debt and focus on other brands.
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L'Oréal purchases Aesop in $3.7 billion deal - Power Retail (Power Retail)
L'Oréal has purchased Melbourne based luxury skincare brand Aesop in the biggest ever acquisition of an Australian luxury business.
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