Aesop follows Jurlique; skincare firm up for sale

Barely three months after Japanese cosmetics and skincare maker Pola Orbis announced the A$300m ($300m) acquisition of Australian organic skincare brand Jurlique International, Melbourne-based beauty care company Aesop is reportedly up for sale.

The company has also appointed Goldman Sachs as its financial consultant, reports said.

Aesop founder Dennis Paphitis, management and Harbert Private Equity of the US are expecting $150m from sale of the beauty products maker which is hoping annual sales of $45m in the year ending 30 June 2012.

The firm has reported sales growth of 30% despite retail slowdown, however Goldman Sachs sales flyer reported $65m expectation in revenue for the next financial year.

The sale might be designed to push the firm’s overseas expansion plans and ride the recent eco-ethical products boom, reported smartcompany.com.au.

Aesop owner Dennis Paphitis told The Age that the financial year will be the first in which total sales outside of Australia will be greater than domestic sales, with plans for more American stores in particular.

Aesop’s product line includes skincare, hair care and body care products made using plant-based ingredients such as sandalwood, macadamia seed and clove; and are offered across Australia, Europe, Asia and the US.

Harbert Australian Private Equity Fund bought 40% of Aesop in December 2009 and controlling founder Denis Paphitis and management own remaining 60%.