L'Oreal plans to buy luxury skincare brand Aesop — known for its $90 serums and $40 hand wash that wealthy millennials can't get enough of — in a $2.5 billion deal

Tue, 04/04/2023 - 06:14

Aesop skincare — Aesop is known for its luxurious, and pricey, skincare.
Katie Falkenberg/Los Angeles Times via Getty Images

French cosmetics giant L'Oreal plans to buy Aesop for $2.5 billion.
Aesop is an Australian skincare brand, known for its simple marketing and gender-neutral products.
It gained a cult following among wealthy millennial shoppers and is seen as an aspirational brand.

French cosmetics giant L'Oreal plans to acquire luxury skincare brand, Aesop, for $2.5 billion.

In a statement announcing the news on Monday, Aesop owner Natura &Co said it expects the deal to close in the third quarter of 2023. L'Oreal's CEO, Nicolas Hieronimus, described Aesop as the "epitome of avant-garde beauty."