‘We’re big believers in physical retail,” declares Aesop chief executive Michael O’Keeffe, a few weeks before the opening in Sydney of his company’s largest store yet.

He’s not kidding: since 2015, the Australian luxury skincare brand has roughly doubled its tally of standalone boutiques worldwide, from 100 to more than 200. While other niche beauty brands pivot to e-commerce or rely increasingly on department store sales, Aesop is pursuing a bricks-and-mortar agenda.