The Body Shop has informed its customers of a significant change, revealing that the company now has a “new owner.” British entrepreneur Mike Jatania has rescued the ethical beauty retailer from administration, leading a consortium under his investment firm Aurea, which will now spearhead the company’s revival.
The acquisition, completed on September 7, marks Aurea’s largest transaction to date, with Jatania and Charles Denton, former CEO of beauty brand Molton Brown, taking the helm of The Body Shop’s leadership team.
In a statement, Aurea expressed excitement about the acquisition, noting that the firm intends to “steer The Body Shop’s revival and reclaim its global leadership in the ethical beauty sector it pioneered.”
The news has provided reassurance to The Body Shop’s loyal customer base, with the company confirming there are currently no plans to close any of its 113 remaining UK stores.
In an email to customers, The Body Shop stated: “Everything you know and love about us will stay the same or, with a little help from our new owners, it’ll get even better.” It also emphasised that this marked a new and exciting chapter for the brand.
The retailer explained the involvement of Aurea Group in the transition, noting that Aurea and its investors had acquired The Body Shop’s assets as a going concern, forming a new entity, The Body Shop Group Limited, to manage operations. The company also revealed that it would soon revert its name back to The Body Shop International Limited.
Customers were assured that there would be no changes to the handling of their personal data, except for the transfer to the new legal entity.
In addition, members of The Body Shop’s Love Your Body Club will continue to receive updates regarding their accounts, points, and vouchers, ensuring that the customer loyalty program remains unaffected by the ownership change.
The Body Shop’s new ownership is seen as a positive move towards restoring the brand’s prominence in the ethical beauty sector, which it has been credited for pioneering.
