The boss of one of Australia’s leading luxury personal products brands has quit after 20 years and is taking a “sabbatical”.
The longstanding chief executive of luxury soap brand Aesop is stepping down.
Michael O’Keefe has been chief executive since 2003, leading the high-end brand through to $1bn of global sales this year.
Mr O’Keefe told the Australian Financial Review that he was headed for a sabbatical and then to find the next project.
Aesop has been approached for comment.
The brand is in the top-10 rankings among high-end cosmetics in China, Japan and Korea, and uses plant-based ingredients in its body, hair and skin products.
Michael O’Keefe says he will take a break from work. Picture: Matt King / Getty Images
The company has about 500 stores in 20 countries, including 60 brick and mortar outlets in Australia.
In its Asian, Australian and New Zealand stores, the company rang up $281m of sales last year, growing exponentially from humble beginnings.
In 1987, Melbourne hairdresser Dennis Paphitis wanted better products, but came up empty so instead founded Aesop.
Mr O’Keefe came on board sixteen years later, when the brand had 10 staff.
In 2012, Mr Paphitis and the private equity owner sold 65 per cent of the company to Brazilian firm Natura & Co, for $68m. Four years later Natura purchased the rest of the company for a confidential amount.
Behemoth L’Oreal then got involved last year, buying Aesop for $4bn.
Mr O’Keefe has been based in London, but Aesop is still headquartered in Melbourne.