The Body Shop's new owner disposes of a large part of The Body Shop's business in Europe and Asia. Aurelius, the owner that acquired the company which until the end of last year belonged to the Natura group, has sold its business in Europe and Asia to a family-owned company. This represents just under 15% of its global business, and as Retail Week explained, the group's idea is to "initiate a solid recovery strategy".
The company hopes through this move to focus its efforts and strategy on its most important market and fatten its network of franchisees and has not revealed which companies will be affected, although it has admitted that this sale of the business will also involve the sale of physical and digital outlets.
Financial terms of the deal have not been disclosed by either party, and The Body Shop hopes it will also help the company "create a modern and dynamic beauty brand and hopes to reach customers more effectively by strengthening digital platforms.
The move also coincides with the departure of The Body Shop's managing director for the UK and Ireland. Maddie Smith, who held this position, has made it clear that it was a decision she had been mulling over since before Christmas and that it has not been derived or motivated by the sales agreement announced this week. Smith will remain with the cosmetics company until next April.