Mike Jatania, co-founder of Auréa Group will take on the role of executive chairman, while Charles Denton will serve as the chief executive officer of The Body Shop
Bengaluru: Auréa, the growth capital firm co-founded by British cosmetics tycoon Mike Jatania and investment professional Paul Raphael, has acquired UK-based personal care brand The Body Shop, the retailer said in a press release on Monday.
Jatania will take on the role of executive chairman, while Charles Denton will serve as the chief executive officer of The Body Shop.
In July this year, The Body Shop signed an exclusivity agreement with the Auréa group to facilitate its acquisition out of insolvency.
“With The Body Shop, we have acquired a truly iconic brand with highly engaged consumers in over 70 markets around the world,” said Jatania. “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.”
Founded in 1976 in Brighton, England, by Dame Anita Roddick, the beauty retailer rapidly expanded into a global brand, now operating approximately 3,000 retail locations across more than 70 countries.
The Body Shop has been operational in India since 2006 under the management of Quest Retail Pvt Ltd, a Delhi-based cosmetic manufacturing company.
“The Body Shop India welcomes this exciting news,” said Shriti Malhotra, Group chief executive officer of Quest Retail – The Body Shop India. “With new ownership at the helm, we are looking forward to tremendous brand energisation and accelerated growth.”
At present, it has over 200 stores and over 20 Activist Workshop stores nationwide and it caters to over 1,500 cities through its online reach as well as marketplace partnership with e-commerce brands.
