More than 100 Body Shop stores have been rescued from shuttering after a rescue deal was struck for the struggling chain.
The retailer has been bought out of administration by a consortium led by “Cosmetics King” Mike Jatania, the millionaire tycoon behind investment firm Auréa.
The deal, which was announced on Saturday, is expected to save more than 1,000 jobs with no further store closures immediately planned.
Former Molton Brown chief executive Charles Denton, who will lead the chain under Auréa, took to LinkedIn in July to say that it had begun working with The Body Shop’s HQ staff to develop a “strategic plan that sets up the business for long-term growth”.
Jatania will serve as executive chair and jointly steer The Body Shop alongside Denton, hoping to lead its revival and “reclaim its global leadership in the ethical beauty sector it pioneered”.
The move brings an end to The Body Shop’s six months in administration after it collapsed in February.
Jatania said: “With The Body Shop, we have acquired a truly iconic brand with highly engaged consumers in over 70 markets around the world.
“We plan to focus relentlessly on exceeding their expectations by investing in product innovation and seamless experiences across all of the channels where customers shop while paying homage to the brand’s ethical and activist positioning.”
Denton said: “I am truly excited to lead this brand, which I have admired for many years. We recognise that revitalising the business will require bold action and a consumer-centric, commercially agile mindset.
“We believe there’s a sustainable future ahead and, working closely with the management team, we aim to restore The Body Shop’s unique, values-driven, independent spirit.”
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