April 6, 2023
Today, L’Oréal revealed that it had reached a deal with Natura &Co to buy the upscale Australian cosmetics company Asop.
Asop’s enterprise value, according to the planned transaction, is USD 2.525 billion.
Asop, which was founded in 1987, is well known throughout the globe for its skin, hair, and body products.
A-sop has become a worldwide super brand that is accessible in upscale retail, beauty and hospitality locations all over the world thanks to its distinctive amber packaging, plant-based ingredients and sustainable vegan formulations.
A-sop presently has 400 points of sale spread out across the Americas, Europe, Australia, New Zealand, and Asia. It is just beginning to establish a presence in China, where the first store is scheduled to open in 2022.
In 2022, the company reported revenues of 537 million USD.
L’Oréal Groupe CEO Nicolas Hieronimus stated, “I am thrilled to welcome Asop and its employees to the L’Oréal Groupe family.
Asop is the pinnacle of cutting-edge beauty, and their products are the perfect fusion of urbanity, hedonism, and undeniable luxury. They are also created with great care and extraordinary attention to detail. L’Oréal will help
A’sop realise its enormous development potential by tapping into today’s ascending currents, especially in China and travel retail.
Cyril Chapuy, President of L’Oréal Luxe, added in response to the purchase, “My Team and I are delighted to have A’sop join the L’Oréal Luxe portfolio of iconic global brands.
Thanks to its design-led brand essence, its highly effective and sensorial products, as well as its customer-obsessed retail philosophy, A’sop occupies a very special place on the world’s luxury beauty market.
We are excited to welcome Asop CEO Michael O’Keeffe and his skilled and committed teams to continue to develop the brand’s extraordinary potential by fostering its individuality and values.
We are very confident that A’sop will become a member of the exclusive club of L’Oréal Luxe Billionaire brands and will subsequently make a major contribution to the Division’s future expansion.
The sale of Asop signals a new phase in Natura &Co’s growth, according to Chief Executive Officer Fábio Barbosa. With a strengthened financial foundation and a deleveraged balance sheet, Natura &Co.
will be better able to concentrate on its strategic objectives, particularly our investment strategy for Latin America. Additionally, we will be able to focus on expanding The Body Shop’s clientele and realigning Avon International’s presence.
We are incredibly grateful to all of Asop’s employees, who not only made significant contributions to Asop’s success but also to making Natura &Co what it is today. We are proud of the remarkable success of the Asop brand.
We have no doubt that A’sop will continue to develop under L’Oréal’s ownership and we wish them continued success in this new chapter.
The closing is contingent upon getting a few regulatory permits and meeting other standard requirements.
Regarding L’Oréal
L’Oréal, the top player in the global beauty industry, has dedicated itself for more than 110 years to one goal and one goal only: achieving the goals of consumers for beauty all over the world.
We describe our approach to beauty as inclusive, moral, generous, and dedicated to social and environmental sustainability in line with our purpose, which is to create the beauty that moves the world.
We provide the best in terms of quality, efficacy, safety, sincerity, and responsibility to every person on the planet with our diverse portfolio of 36 international brands and ambitious sustainability commitments in our L’Oréal For The Future program, while also celebrating beauty in its boundless diversity.
The Group produced sales of 38.26 billion euros in 2022 with 87,400 dedicated workers, a balanced geographic footprint, and sales across all distribution networks
(e-commerce, mass market, department stores, pharmacies, hair salons, travel retail, and branded boutiques). To invent the future of beauty and take the lead in Beauty Tech, L’Oréal depends on 20 research centres spread across 11 nations, a committed team of 4,000 scientists, and more than 5,500 tech and digital professionals.
Visit this website for more details: loreal.com/en/mediaroom
This news release does not represent a solicitation of an offer to buy L’Oréal shares or a sale of shares. Please refer to the public documents registered in France with the Autorité des Marchés Financiers, which are also accessible in English on our website www.loreal-finance.com, if you want more detailed information about L’Oréal.
There’s a chance that this news release includes forecast data. Although the Company believes that the assumptions underlying these statements are reasonable as of the date this press release was published, they are by their very nature subject to risks and uncertainties that could cause a difference between the actual figures and those suggested or indicated in these statements.
Regarding Asop
Asop is a luxury brand with aspirational appeal that offers effective and sensorial goods in a variety of wellness and beauty categories, including hair, body, face, home, and fragrance.
A-sop has experienced substantial organic growth since its founding in 1987 while upholding a strong brand ethos and remaining true to its fundamental social and environmental values.
A devoted and growing customer base has found its global footprint of over 395 uniquely designed locations, elegant customer experience, and purpose-driven approach to be especially alluring, and the business is now well-positioned to become a pioneer in the luxury beauty space. Asop is a Certified B Corporation® with pride.
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