06
Apr
French cosmetics group L'Oréal has entered into an agreement with Brazil's Natura & Co to buy the Australian luxury brand at an enterprise price of $2.53 billion, both companies said on Monday. According to a statement, the Aesop brand will have sales of $537 million in 2022. "Aesop taps into all of today's booming currents and L'Oreal will contribute to unlocking its huge growth potential, particularly in China and travel retail," L'Oreal CEO Nicolas Hieronymus said in the statement. The L'Oréal Luxe division, which includes L'Oreal, was the group's top performer for the second consecutive year in 2022, with sales…
