Brazilian beauty conglomerate Natura & Co (São Paulo) may sell The Body Shop (London) after the skincare and cosmetics retailer saw another quarter of declining sales. The possible sale was revealed in a securities filing, CNBC reports.
In that document, Natura & Co wrote that its board “recently authorized its management to explore strategic alternatives for The Body Shop,” including a possible sale.
“There can be no assurance that this process will result in any transaction,” the company noted. “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.”
Founded in England in 1976, The Body Shop now has more than 2500 retail locations (owned and franchised) in 80-plus countries. Its parent company is a multi-brand cosmetics group, which includes Avon, Natura, The Body Shop and Aesop. (The company unveiled plans earlier this year to sell Aesop to L’Oréal for $2.5 billion).