Auréa, the growth capital firm co-founded by Mike Jatania and Paul Raphaël completed its acquisition of The Body Shop.
The Body Shop was founded in 1976 and has been a pioneer of ethical beauty, offering high-quality, innovation-led skincare, body care, haircare and make-up made with natural, fairly traded ingredients from around the world, stated the company.
Mike Jatania and Charles Denton will serve as Executive Chairman and CEO respectively and will jointly steer The Body Shop’s revival.
Mike Jatania, Co-Founder of Auréa 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.”
Charles Denton, CEO of The Body Shop, 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.”
Shriti Malhotra, Group CEO of Quest Retail – The Body Shop India, said: “The Body Shop India welcomes this exciting news. With new ownership at the helm, we are looking forward to tremendous brand energization and accelerated growth. The Body Shop India is deeply connected to Indian customers through its strong omnichannel presence with 200+ stores and online presence in 1500+ cities through a strong e-commerce and Quick-commerce network. With immense opportunities ahead of us, we are excited to work with the new owner.”
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