L'Oréal announced on Tuesday that it had signed an agreement with Natura & Co. to acquire the Australian luxury cosmetics brand, Aesop , valued at $2.525 billion.
And “Aesop” achieved sales of $ 537 million in the year 2022, according to a statement, while the brand is still owned to this day by the Brazilian “Natura & Co” group (“The Body Shop”, “Evan”).
"+L'Oréal+ will contribute to accelerating the growth of +Aesop+", particularly in China.
"The addition of Aesop to the luxury brands in the beauty division will contribute significantly to the growth of L'Oréal Luxe in the coming years," said Cyril Chapuy, President of L'Oreal Lux.
In 2022, L'Oreal Luxe (Lancome, Yves Saint Laurent, Giorgio Armani...) occupied the first place for the second year in a row among the various divisions of the group, with sales of 14.6 billion euros (+18,000,000 euros). 6%.
"The abandonment of Aesop marks the start of a new development cycle for Natura & Co," said Fabio Barbosa, managing director of Naturi & Co. "A company with a strong financial structure, healthy balance sheet and strict financial discipline will be able to focus more on its strategic priorities, specifically on its investment plan in Latin America," he said.
Founded in 1987, Aesop is famous for its skin, hair and body care products, and has become a global brand available in high-end stores, beauty centers and luxury hotels around the world.
As for “L’Oreal”, which is at the forefront of the global companies in cosmetics, it achieved 5.7 billion euros in net profits in the year 2022, achieving an increase of 24.1%, while its sales reached 38.3 billion euros, with an increase of 18.5%. %.
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L'Oréal acquires Australian luxury cosmetics brand, Aesop