The Body Shop, the renowned beauty brand, is making significant changes to its business structure by reportedly selling off a major portion of its operations in Europe and Asia. This includes both its physical stores and digital channels, accounting for approximately 14% of the company’s global business. However, the sale will not affect its operations in the UK market, ensuring stability in that region.
In a statement, The Body Shop emphasized its focus on strategically important markets and Global Head Franchise Partner relationships. The company plans to capitalize on opportunities to strengthen these areas and will concentrate on enhancing its digital platforms, developing new sales channels, and providing unique retail experiences to effectively reach customers.
By divesting its European and Asian businesses, The Body Shop aims to bolster its operations in other key markets. This move aligns with the company’s ambition to transform into a modern and dynamic beauty brand that remains relevant to customers and can compete in the long term. The spokesperson emphasized the importance of creating exceptional products, rediscovering the brand’s unique voice, and achieving financial stability.
These changes come after the departure of Interim CEO Ian Bickley, who played a vital role in stabilizing the embattled beauty brand during the sale process. Bickley, previously a board member of former owner Natura & Co, successfully guided The Body Shop through the completion of the sale to private equity firm Aurelius Group. With the sale finalized, leadership responsibilities have been transferred to Aurelius.
The sale of The Body Shop by Natura & Co was initiated in September 2023, and Aurelius Group acquired the brand for £207 million two months later. This price represents just a fraction of what the Brazilian cosmetics giant paid for The Body Shop in 2017. The decision to sell followed a series of consecutive quarterly losses for the beauty brand.
