Natura &Co, the parent company of The Body Shop, has sold Aesop to French cosmetics giant L’Oreal for £2 billion. The deal is expected to close in the third quarter of 2023, pending customary regulatory approvals.

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The sale of Aesop is part of Natura &Co's strategy to focus on its strategic priorities, such as the integration in Latin America and the improvement of The Body Shop’s business. Natura &Co CEO, Fabio Barbosa said the divestment of Aesop marks a new development cycle for the company, and that it will be able to sharpen its focus on its strategic priorities with a strengthened financial structure and a deleveraged balance sheet.

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Since becoming part of Natura &Co in 2012, Aesop has seen the number of stores and counters increase from 52 to 395. L’Oréal CEO, Nicolas Hieronimus said Aesop is the epitome of avant-garde beauty, and that L’Oréal will contribute to unleash its massive growth potential, notably in China and Travel retail. Aesop CEO, Michael O’Keefe said the company is entering the next phase of its development and is confident that with L’Oréal’s partnership they will be able to bring their exceptional skincare products to even more people and continue to expand their brand globally.

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The news of the sale of Aesop to L’Oreal was first reported by Retail Gazette on April 20th, 2023.

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Sources:
Retail Gazette. (2023, April 20). Natura &Co sells Aesop to French cosmetics giant L’Oreal for £2 billion. Retrieved from https://www.retailgazette.co.uk/blog/2023/04/natura-co-aesop/
Sources: https://www.retailgazette.co.uk/blog/2023/04/natura-co-aesop/