L’Oréal completes Aesop acquisition

It entered a deal with Natura &Co to purchase Aesop.

L’Oréal Group announced that it completed the acquisition of luxury beauty brand Aesop.

The company signed an agreement with cosmetics group Natura &Co in April to buy the Australian beauty brand for $2.525b.

L’Oréal Group CEO Nicolas Hieronomus said the Aesop brand “taps into all of today’s ascending currents” with its “urbanity, hedonism and undeniable luxury.”

“We look forward to building on the brand’s unique DNA and values, as we unleash its massive growth potential in China and beyond,” he added.

Aesop CEO Michael O’Keeffe said the brand will continue to grow and innovate on the back of L’Oréal’s support and expertise, pushing for expansion whilst sticking to its values.