August 31, 2023
L’Oréal has completed the acquisition of luxury beauty brand Aesop. As reported, the group announced in April that it would acquire the skin, hair and bodycare brand from Brazil’s Natura &Co in a deal that valued Aesop at $2.525bn.
Nicolas Hieronimus, CEO of L’Oréal, said the group intends to exploit the brand’s growth potential in China.
Cyril Chapuy, President of L’Oréal Luxe, added the company is confident that Aesop will join L’Oréal Luxe’s club of ‘billionaire brands’.