L'Oréal Acquires Aesop in a $2.5 Billion USD Deal
The largest merger for the conglomerate to date.
L’Oreal will acquire the luxe lifestyle brand Aesop in a $2.5 billion USD deal.
According to a press release, this step will position the beauty conglomerate to expand its footprint in China. Aside from L’Oréal’s 1.7 billion USD purchase of YSL Beauty in 2008, this will be the brand’s largest acquisition to date. “Aesop taps into today’s ascending currents and L’Oréal will contribute to unleash its massive growth potential, notably in China and travel retail,” L’Oréal’s Chief Executive Nicolas Hieronimus stated in a release.
Aesop is a chic and minimalist brand that ranges across the skincare, body care and fragrance categories. L’Oréal adding the cult-loved brand to its portfolio of prestige brands speaks to the ever-changing dynamic of the beauty space.
L’Oréal reports that it expects to close the deal officially in the second half of the year.
