From Side Hustle to £2 Billion Brand: Lessons from Aesop’s Journey

In April 2023, beauty giant L'Oréal made headlines with its £2 billion acquisition of Australian skincare brand Aesop — marking its largest purchase to date. What started as a small side hustle in a hair salon has grown into a global powerhouse.

Founded in 1987 by Australian hairdresser Dennis Paphitis, Aesop began as an independent salon selling its own skincare products. Early on, Aesop had a niche customer base, but CEO Michael O'Keeffe, who took over in 2003, saw the potential for growth. Instead of pouring money into traditional advertising, Aesop focused on building physical spaces that offer an immersive and aesthetically unique experience for customers.

Each Aesop store is individually designed, incorporating local materials and architecture to reflect its surrounding neighborhood. This attention to detail, coupled with exceptional customer service, has helped Aesop stand out. They even offer products like newspapers and flowers alongside their skincare items, enhancing the overall shopping experience.

Entrepreneurship is not about chasing temporary hype, but about maintaining uniqueness and continuously enhancing the customer experience. If you're also starting a business or your current venture is small, perhaps just a side hustle, there's no need to worry. With the inspiration above, you too can create your own legendary brand!