Abstract: The invention provides a novel and improved method for the preparation of a highly concentrated aqueous dispersion of a pearlescent agent, which is typically an ethyleneglycol di(fatty acid) ester, capable of forming very thin leaf crystals exhibiting pearlescence to be used for imparting pleasant appearance to detergents, toiletries, such as hair shampoos, hair rinses and others, and the like admixed therewith. The method is performed by solubilizing the pearlescent agent in an aqueous solution of a surfactant, at least a substantial amount thereof being in the state of middle phase liquid crystals, at or above the melting point of the pearlescent agent and succeedingly cooling the above obtained mixture to room temperature whereby to crystallize the pearlescent agent in situ while the state of the middle phase liquid crystals of the surfactant is kept substantially unchanged.