L’Oréal is set to transform Aēsop into one of its best-performing luxury beauty brands by “unleashing its growth potential” in Asia.
The French conglomerate's Luxe Division, which acquired the Australian beauty brand from Natura & Co for US$2.52bn last year, is set to expand Aēsop’s presence in China and invest in its travel retail operations.
“We aim to accelerate Aēsop’s enormous growth potential in these promising markets and to have this brand join the club of L'Oréal Luxe billionaire brands,” Cyril Chapuy, President of L’Oréal’s Luxe Division, told Cosmetics Business.
“Aēsop particularly has immense growth potential in China – with people loving the brand there – and in the travel retail sector, which is a very relevant channel for the company.
“Our role is to unleash Aēsop’s great potential and support it in continuing its already remarkable growth.”
The French beauty giant’s mission to expand Aēsop’s retail footprint builds upon the luxury body care brand’s track record.
Not only did Aēsop report global sales of €537m in 2022, it also opened its first store in China in Shanghai, before quickly ramping up its retail presence to six sites in areas like Macau and Guangzhou.
The brand also has many travel retail operations.
L'Oréal plans to build Aēsop's presence in China and boost its travel retail operations
Strength in numbers
L’Oréal, which has 23 brands in its Luxe Division, was recently crowned the global leader for luxury beauty after its sales surged 4.5% to €14.92bn last year.
Its portfolio includes ultra-premium skin care players Lancôme, Kiehl’s and Helena Rubinstein, as well as beauty licence deals for fashion houses like Prada and Valentino.
Chapuy’s strategy is to use L’Oréal’s “balanced geographical footprint” to expand Aēsop’s reach further by
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