The parent company of The Body Shop, Natura & Co, is reportedly considering a sale of the UK retailer following its struggling efforts to revive profits post-pandemic.
Recently, the beauty retailer reported declining sales over numerous quarters, as a result, Natura has announced it has authorised its board of directors and management to explore “strategic alternatives”.
“There can be no assurance that this process will result in any transaction. Natura does not intend to comment on or provide updates regarding this matter unless and until it determines that further disclosure is appropriate or required,” according to a filing.
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Earlier this month, the company reported its second-quarter results and revealed sales at The Body Shop fell 12% to $163.7 million.
Natura & Co, which also owns Avon, acquired the UK brand from L’Oreal in 2017.
The news comes as Natura & Co recently credited the Covid-19 pandemic to the acceleration of finding the correct balance between physical and digital (‘phygital’).
Speaking to ChannelX, Gianfranco Cuzziol CRM & Personalisation Lead at Natura & Co said: “The pandemic acted like an accelerator for several changes in retail that were already happening
“With stores closing and digital becoming more important to several brands, finding the sweet spot between physical and digital has accelerated over the past few years.”
To watch the whole interview, click here…
Gianfranco Cuzziol will be speaking at ChannelX World on the 11th of October 2023 in London. Tickets available at channelxworld.com
