L’Oreal purchased Aesop for $3.7 billion

L’Oreal purchased Aesop for $3.7 billion.

The big cosmetics giant L’Oreal has purchased the Australian skincare brand for a record-breaking amount of AU $3.7 billion. The news was brought to light on Monday, April 3, 2023.

Melbourne-based cosmetics firm Aesop, founded in 1987, has grown to become one of the most reputed and loved skincare brands. The company uses natural and sustainable raw materials. The brand Aesop has loyal customers who appreciate the company’s theme and commitment to ethical and environmentally-friendly practices. 

With the acquisition of Aesop, L’Oreal gains access to a brand that has a strong reputation for high-quality products and a commitment to sustainability.

In a statement by L’Oreal, the company’s CEO Nicolas Hieronimus said, “We are thrilled to welcome Aesop into the L’Oreal family. Aesop is a brand that has always stood for quality, sustainability, and innovation. We believe Aesop is a perfect fit for L’Oreal to expand our products portfolio of natural and organic skincare brands.”

Aesop’s founder, Dennis Paphitis, also expressed his excitement about the acquisition, saying, “I am thrilled that Aesop has found a home with L’Oreal. This is an exciting opportunity for Aesop to reach new audiences and continue to grow while staying true to our core values.”

- Published By Team Australia News

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