Aesop, the Australian-founded luxury beauty company, has been acquired by L’Oréal in a deal valued 2.5 billion dollars.
Brazilian cosmetics group Natura & Co, which also owns the Avon and Body Shop brands, is selling the brand 10 years after it acquired a 65 percent stake in 2013.
The transaction is signifant for L’Oréal and marks amongst its biggest purchases in the past twenty five years. Natura said the sale will help to focus on its home market in Latin America and settle debts.
Aesop was founded in 1987 by Australian hairstylist Dennis Paphitis. Using only organic and natural ingredients the brand took its time rolling out categories while building a strong customer base for its core products of hair and skincare. Its eponymous minimalist packaging in glass apothecary-style bottles attracted a design conscious client and inspired a world of graphic design copycats.
The brand opened small stores in global locales, working with renowned architects to immerse its spaces with elements of its surroundings. Focusing on pure, holistic and sophisticated simplicity, it was, and is, a recipe for great marketing success.