The first Aesop store in mainland China will be located on Shanghai’s Dongping Road. The street’s rich cultural history and integration of the city’s diverse styles make it a prime location. This marks the Brazilian cosmetic giant Natura&CO’s official entry into the Chinese market.
Established in 1987 in Australia, Aesop blends scientific research and herbal formulas to create a wide range of cosmetics. The company positions itself as firmly against animal experimentation which makes it popular amongst vegan and animal-welfare-oriented consumers.
Based on Natura&Co’s financial report, the Group’s combined net income is $1.627bn USD, down 12.7 per cent from last year. Apart from Aesop’s 9.6 per cent increase, Natura, Avon, and The Body Shop all reported negative growth, down 8.4 per cent, 22.1 per cent, and 22.9 per cent, respectively.
Under Natura&CO, Aesop has doubled its sales over the last three years. Sales grew by 23 per cent, 50 per cent, and 33.4 per cent respectively in 2019, 2020, and 2021. The company’s revenue over those three years reached $503M USD.
Currently, Aesop has 269 physical stores worldwide, up 22 from 2021. The stores account for 76.5 per cent of total sales, which indicates the sustained importance of offline retail channels.
The company entered Tmall Global in 2018 and opened its overseas flagship store in March. Its Tmall Global flagship store has nearly 700 thousand followers as of July. With the brand’s Parsley Seed Antioxidant Serum, Aesop has already been popular in the Chinese buying agents market.