Feb 11, 2024
The Body Shop set to appoint administrators in UK
The Body Shop's UK business is set to appoint administrators this week, in a move likely to result in shop closures and job losses. The Body Shop has now changed hands three times since it was sold by founder Dame Anita in 2006, shortly before her death the following year. L'Oreal then sold the firm to Brazilian beauty giant Natura in 2017 for £880m. It changed hands again late last year when Aurelius acquired the company for £207m. Mark Constantine, co-founder and chief executive of Lush, told the Sunday Times that under L'Oreal's ownership, the Body Shop had moved manufacturing to the Philippines which meant better profit margins and "Marketeers discounted to create sales". The Body Shop said it was selling its business in most of mainland Europe and in parts of Asia. At the time, it told Retail Week: "This further prioritises the Body Shop's strategically important markets and global head franchise partner relationships, which it will look for opportunities to build."The Body Shop will also focus on more effectively reaching customers by strengthening digital platforms, developing new sales channels, and via differentiated retail experiences.
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