Aesop(stylised as Aēsop) is an Australian luxury cosmetics brand that produces skincare, haircare and fragrance products. It is headquartered inCollingwood, Victoria[2]and is a subsidiary ofL’Oréal.[3]
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Cosmetics |
| Founded | 1987 |
| Founder | Dennis Paphitis |
| Headquarters | |
Number of locations | 395 stores |
Key people | Michael O’Keeffe (CEO - 2024) |
| Products | Skincare, bodycare, haircare,fragranceand homeware |
| Revenue |  R$1.9 billion(2020)[1] |
| Owner |
|
| Website | aesop |
Aesop was established in 1987 by Dennis Paphitis inArmadale, Victoria,where Paphitis owned and operated ahair salonnamed Emeis in which he blendedessential oilsinto hair products.
After continued success, he rebranded to Aesop, naming the brand afterthe Greek fabulist and storytellerto mock the puffery exhibited in cosmetics industry advertising. He sold the brand toNatura & Coin 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[update],the brand had nearly 400 points of sale across 27 countries.[5]As of 2017[update],Aesop produced 83 product formulations and threeshavingaccessories.[6]
L'Oréal bought Aesop for $3.7 billion on 30 August 2023.[7]Michael O'Keeffe remained CEO.[8]
History
editAesop was founded by hairdresser[9]Dennis Paphitis[10]in 1987 inArmadale,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 2010Harbert Australia Private Equitybought 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 toBraziliandirect-salescosmetics companyNaturaCosméticos for US$71.6 million[16](approximatelyA$100 million).[17]Natura took total ownership in December 2016.[6]
As of 2017[update],Aesop produced 83 product formulations and threeshavingaccessories.[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 certifiedB Corpin 2020, and re-certified in 2024.[21]
In April 2023 it was announced thatL'Oréalintended to buy the brand for $3.7 billion;[5][22][23]the acquisition was completed in August.
Corporate identity
editThe brand has been noted for following a modern approach to prestigebranding.[24]This includes not using traditional advertisements or discount sales to promote its products but rather getting noticed and talked about for the design of its products, stores, events and communications.[25][26]
Name, logo, and branding
editAccording to founder Dennis Paphitis, the brand's name was inspired byAesop,the Greek fabulist and storyteller credited with a number of fables. Originally named "Emeis" - which in Greek means "us", and the namesake of Paphitis's hairdressing salon at the time, the brand's name was changed to Aesop in response to the sometimes exaggerated claims made by competitors about their products.[4]Aesop has a minimalist approach to branding, with their logo being a simple transcription of the brand's name in Optima font. Their brand image is described by social entrepreneur and writer Tony Kearney as the key behind its success who credits Aesop with having crafted one of the most beautiful brand programs in existence.[27]After 20 years of operation, the brand retained digital strategist Work & Co to redesign the online experience. The website redesign was critically acclaimed, winning three awards.[28]
Store design
edit
Aesop retail stores are considered to place local relevance and understatement as a priority in their design.[29]Notable designers and architects have been involved in the creation of Aesop stores. In 2008, British designerIlse Crawforddesigned the first London-based store for the brand, located in a Victorian Grade II listed mansion block in Mayfair.[30]The store was noted for its restoration of a historic building with modern additions with brass and ceramic while maintaining original fittings such as the pitch pine floor.[31]In 2021, Odami, a Spanish-Canadian design studio was retained by Aesop to design a new store in Yorkville.[32]Odami described the project as one which paid homage to the history of Yorkville, which retains many homes ofVictorian design.[32]The Victorian-style finishing's were noted, as was the design's minimalist approach.[33]
Internal culture
editAesop has a distinct internal company culture consisting ofminimalismand order. Aesop employees are referred to as "Aesopians" and are subject to certain unique company rules and guidelines, such as using only blackMoleskinenotebooks and black pens and sending all emails with a greeting or pleasantry at its beginning and end.[34]Its offices have been described as "minimal...upmarket prison cell[s]", and employees are not permitted to eat food at or keep personal items on desks.[34]This order is said to stem from Paphitis's inclination for control over Aesop, who has acknowledged "[Aesop] labour[s] over seemingly inane decisions...to make things appear effortless...there's a great deal of energy involved".[15]Other elements of the internal culture include keeping mobile phones on silent inside offices and using Aesop's brand colours on company documents. Former General Manager of Marketing Lisa D'Amico has stated, "the colours used onPowerPointpresentations are really, really important, particularly to the board. If [one is] not OK with that, [they] just won't enjoy [working at Aesop] ".[6]Such edicts have been described as "specific yet vague" that make being a potential employee stressful.[6]D'Amico acknowledged Aesop takes "cultural alignment to the nth degree" and noted cultural fit between Aesop and its employees ought to be mutual.[6]
Points of sale
editAesop 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, Austria, Russia, Hong Kong, Sweden, Norway, Spain, Brazil, United Arab Emirates, Belgium and the UK.[35][36]In the US, it is also available atNordstromandSaks Fifth Avenue.In Canada, Aesop's products can be found atHolt Renfrew,Ogilvy,and Saks Fifth Avenue. In Australia, Aesop also operates counters within selectMyer department storesas 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 theBroadway Theater DistrictinDowntown Los Angeleswhere the walls are lined with reclaimedcardboardtubing from fabric rolls discarded by the nearbyFashion District.[38]Other elements of the store's interior are made entirely fromrecycled paper.[38]
Management
editMichael O'Keeffe has been CEO of Aesop since 2003.[6]
See also
editReferences
edit- ^"2020 annual report Natura & Co".p. 15.Retrieved23 August2022.
- ^"Aesop finds a new home in Collingwood office tower".Australian Financial Review.17 November 2021.Retrieved31 August2023.
- ^"L'Oréal completes acquisition of Aaesop/".L’Oréal Groupe.Retrieved31 August2023.
- ^abNiven-Phillips, Lisa (20 October 2019)."The label of fable: tales from Aesop skincare".The Guardian.Retrieved12 September2022.
- ^abYun, Jessica (4 April 2023)."L'Oreal snaps up Australian skincare brand Aesop in record $3.7 billion deal".Sydney Morning Herald.Retrieved14 April2023.
- ^abcdefghStrickland, Katrina (25 April 2017)."Aesop's fable: the skincare company that puts culture first".Australian Financial Review.Retrieved14 April2023.
- ^"L'Oréal Closes Acquisition Of Luxury Beauty Brand Aesop".ESM Magazine.31 August 2023.Retrieved31 August2023.
- ^LaFrenz, Carrie (13 April 2023)."Aesop chief to remain at helm as L'Oreal eyes new markets".Australian Financial Review.Retrieved14 April2023.
- ^dezeen.comInterview with Aesop founder2012/12/10
- ^Fairs, Marcus (10 December 2012)."Interview with Aēsop skincare founder Dennis Paphitis on retail design".Dezeen.Retrieved15 July2013.
- ^"Aesop Australia".
- ^Hattie Crisell (April 2013)."Aesop: The Cult Beauty Brand That Tries Not to Be".New York.
- ^Annabel Ross,The AgeMelbourne Story: Suzanne Santos21 March 2012
- ^Amelia Chia,I'm with the brand: AesopBuro 24/718 December 2015
- ^abRachel WellsThe man behind the Aesop brandSydney Morning Herald23 February 2012
- ^Glazer, Emily (21 December 2012)."Brazil's Natura Buys Aesop Majority Stake".Wall Street Journal.Retrieved27 October2016.
- ^"Natura Announces Strategic Investment in Aesop".Business Wire.20 December 2012.Retrieved27 October2016.
- ^"Aussie brand Aesop have launched homewares".Retrieved1 October2018.
- ^"Aesop Enters the World of Candles".5 October 2020.
- ^"Olous Aromatique Room Spray won the 2020 Award of Green-Trend Leader".A.A. Environment Possibility Award.Retrieved27 December2020.
- ^Walker, Gaelle (11 November 2020)."Aēsop achieves Certified B Corporation status as it seeks to become a more powerful force for good".TheIndustry.beauty.Retrieved14 April2023.
- ^Gross, Jenny (4 April 2023)."Aesop, the Cult-Favorite Skin Care Brand, Will Be Acquired by L'Oréal".The New York Times.ISSN0362-4331.Retrieved14 April2023.
- ^Murdoch, Scott; Spencer, Mimosa (4 April 2023)."L'Oreal buys luxury brand Aesop with eye on China".Reuters.Retrieved14 April2023.
- ^"Aesop; a refreshingly different and sustainable approach to retail".Davidson Branding.3 September 2020.Retrieved12 September2022.
- ^Kuehlwein, JP.Aesop – Fabled Brand, Fabulous Marketing.12/2012
- ^Schaefer, Wolf and Kuehlwein, JP. 2015.Rethinking Prestige Branding: Secrets of the Ueber-Brands.Kogan Page.pp.106.ISBN9780749470036
- ^Kearney, Toni (5 December 2019)."How This Luxurious Australian Beauty Brand Dominates by Distribution".LinkedIn.Retrieved12 September2022.
- ^"Aesop Case Study".work.co.Retrieved12 September2022.
- ^Teufel, Prof Philipp; Zimmermann, Prof Rainer (1 September 2015).Holistic Retail Design: Reshaping Shopping for the Digital Era.Frame Publishers.ISBN978-94-91727-65-8.
- ^"Aesop store by Studioilse".Dezeen.3 June 2008.Retrieved13 September2022.
- ^"Aesop by Studioilse".David Report.6 June 2008.Retrieved13 September2022.
- ^ab"Aesop Yorkville".Odami.Retrieved13 September2022.
- ^Tucker, Emma (9 August 2022)."Aesop's latest Toronto store echoes the Victorian architecture of Yorkville".The Spaces.Retrieved13 September2022.
- ^abElder, John (25 February 2017)."Inside the office culture of Aussie skincare company Aesop".The New Daily.Retrieved14 September2022.
- ^Anna Winston,Dezeen's top 10 Aesop store designsDezeen17 December 2014
- ^"Find your nearest store".27 October 2016.
- ^Blake, Dean (31 August 2018)."Myer announces exclusive partnership with Aesop".Inside Retail.Retrieved21 December2023.
- ^abLizzie Fison,Brooks + Scarpa recycles cardboard tubes and paper for Los Angeles Aesop store interiorDezeen21 March 2017