L’Oréal is buying Australian brand Aesop in a deal that values it at $2.5 billion, in the biggest brand acquisition ever made by the French beauty giant. The sale was announced Monday by Aesop’s parent, Brazilian firm Natura & Co, which also owns The Body Shop and Avon. It brings Aesop, which is known for its luxury skin and body care products, under the same umbrella as brands such as Garnier and Maybelline.
“With a strengthened financial structure and a deleveraged balance sheet, Natura & Co, exercising strict financial discipline, will be able to sharpen its focus on its strategic priorities, notably our investment plan in Latin America,” he said. Aesop was founded in Melbourne, Australia in 1987. Natura picked up a 65% stake in the company in 2012, and formally acquired it in 2016.
L'Oreal is using their money to acquire an overpriced luxury brand instead of, you know, investing in affordable and accessible beauty products for everyone, because who needs inclusivity? prices of beauty products are about to skyrocket even more