Dream - French cosmetics giant L'Oréal plans to acquire the skincare or skincare brand Aesop for US$2.5 billion or Rp37.265 trillion (assuming an exchange rate of Rp14,906).
Aesop owner Natura&Co said in a statement that they expect the deal to be closed in the third quarter of 2023.
L'Oréal CEO, Nicolas Hieronimus, describes Aesop as an 'avant-garde beauty symbol'.
"Their products are not only made with great care and extraordinary attention to detail, they are an extraordinary combination of urbanism, hedonism, and undeniable luxury," he said.
Hieronimus said L'Oréal will contribute to unlocking its tremendous growth potential, especially in China and travel retail.
"L'Oréal will contribute to unlocking its tremendous growth potential, especially in China and travel retail," said Nicolas Hieronimus.
Aesop is an Australian brand that was established in 1987 when founder Dennis Paphitis opened a hair salon in Melbourne and began incorporating essential oils into hair products.
Currently, Aesop is known for its luxurious home fragrances, hair oils, and skincare products, presented in apothecary-style brown bottles. Cleansers, face oils, and toners range in price from US$35 to US$100.
Brazilian cosmetics group Natura &Co previously purchased a 65 percent stake in Aesop in 2012 and four years later, acquired the company fully.
In the following decade, Aesop has experienced rapid growth, opening stores worldwide and seeing gross sales increase from US$28 million to US$537 million.
Source: Insider
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