February 1 2024
Aurelius, the new owner of The Body Shop, will sell part of the British ethical beauty brand's operations in Europe and Asia.
Aurelius, the German-based private equity firm that bought The Body Shop from Natura & Co for £207m in November, has signed a deal to “sell its business across most of Europe and parts of Asia with an international family office”. “To present a robust recovery strategy”, The Retail week.
It's an undeniably bold move and shows the new owner taking decisive action to turn around a company that has struggled for some time under the control of multiple owners.
While details of the deal were not disclosed, the sale includes both physical and digital operations. The sold segments account for 14% of the brand's global external sales. This will not affect UK operations or its global franchise partners operating at country or regional level, the statement said.
The Body Shop also said the move will allow it to prioritize “strategically important markets” as it seeks to “build a modern and dynamic beauty brand”.
The company will “focus on reaching customers more effectively, strengthening digital platforms, creating new sales channels and creating differentiated retail experiences.”
The statement added: “The announced sale is another decisive step towards achieving a strong recovery strategy supported by the right structure. The ambition is to create a modern and dynamic beauty brand that is relevant to customers and capable of competing in the long term.”.
The sale coincides with the departure of Maddy Smith, managing director of The Body Shop UK and Ireland. However, the retailer said Smith “decided to leave before Christmas [e] is not related to today's news about a sale deal that does not include the United Kingdom.
“Maddy will be at The Body Shop [até] In early April, current change and leadership support change.
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