Aesop (brand)
Aesop (stylised as Aēsop) is an Australian luxury cosmetics brand that produces skincare, haircare and fragrance products. It is headquartered in Collingwood, Victoria[2] and is a subsidiary of L’Oréal.[3]
For other uses, see Aesop (disambiguation).
Overview[edit]
Aesop was established in 1987 by Dennis Paphitis in Armadale, Victoria, where Paphitis owned and operated a hair salon named Emeis in which he blended essential oils into hair products.
After continued success, he rebranded to Aesop, naming the brand after the Greek fabulist and storyteller as an intentional ploy to mock the puffery exhibited in the advertising in the cosmetics industry. He eventually sold the brand to Natura & Co in 2012 while maintaining a role as advisor.[4]
Each Aesop store has a unique interior design developed in collaboration with various architects, interior designers and artists. As of 2023, the brand had nearly 400 points of sale across 27 countries.[5] As of 2017, Aesop produced 83 product formulations and three shaving accessories.[6]
Four months after agreeing to pay $3.7 billion for the company, L'Oréal completed the purchase of Aesop on 30 August 2023.[7] Michael O'Keeffe will remain as CEO as Aesop.[8]
History[edit]
Aesop was founded by hairdresser[9] Dennis Paphitis[10] in 1987 in Armadale, Melbourne.[11][12] Suzanne Santos, whose current job title is Chief Customer Officer,[13] was instrumental in the founding and growth of the company.[14] She was Paphitis's first employee.[6]
In 2010 Harbert Australia Private Equity bought a minority stake in the company; Aesop used the capital injection to fund growth.[15] In December 2012, Aesop sold a 65% stake in its business to Brazilian direct-sales cosmetics company Natura Cosméticos for US$71.6 million[16] (approximately A$100 million).[17] Natura took total ownership in December 2016.[6]
As of 2017, Aesop produced 83 product formulations and three shaving accessories.[6] In September 2018, Aesop launched a luxe homewares product.[18] In 2020, Aesop introduced their first candle product line with three new scents titled Ptolemy, Aganice, and Callippus.[19]
For the company's national and international experience in sustainable development, and eco-friendly products, the Environment Possibility Award conferred the "Award of Green-Trend Leader" to Aesop in 2020.[20] Aesop also became a certified B Corp in 2022.[21]
In April 2023, it was announced that L'Oréal intended to buy the brand for $3.7 billion;[5][22][23] the acquisition was completed in August.
Points of sale[edit]
Aesop has over 235 company-owned signature stores across Australia, New Zealand, Japan, Canada, Singapore, Malaysia, Philippines, South Korea, US, Taiwan, Italy, France, The Netherlands, Germany, Switzerland, Russia, Hong Kong, Sweden, Norway, Spain, Brazil, United Arab Emirates, Belgium and the UK.[35][36] In the US, it is also available at Nordstrom and Saks Fifth Avenue. In Canada, Aesop's products can be found at Holt Renfrew, Ogilvy, Nordstrom, and Saks Fifth Avenue. In Australia, Aesop also operates counters within select Myer department stores as part of an exclusive partnership.[37] These counters closely follow the aesthetics and customer experience of the standalone stores but with a condensed range.
Its largest store in 2017 was its 100.8 m2 (1,085 sq ft) space in the Broadway Theater District in Downtown Los Angeles where the walls are lined with reclaimed cardboard tubing from fabric rolls discarded by the nearby Fashion District.[38] Other elements of the store's interior are made entirely from recycled paper.[38]