September 7th 2024.
Earlier this year, things were looking pretty bleak for The Body Shop. With the company facing financial troubles, it seemed like their days were numbered. However, there is good news on the horizon - 113 of their stores remain open thanks to a recent acquisition.
It's no secret that the retail industry has been struggling in recent years, with difficult economic conditions and the ongoing pandemic taking their toll. So, when The Body Shop found itself facing administration, many were left wondering if this would be the end for the beloved cosmetic store. As one columnist asked back in 2013, "Is the death of the high street inevitable?" But it seems that the answer is no.
British tycoon Mike Jatania and former Molton Brown CEO Charles Denton have stepped in to save the day. Jatania's investment firm Auréa completed the acquisition on Saturday, securing the future of 1,300 employees. Together, they will lead The Body Shop's new leadership team.
Thankfully, there are no plans to close any of the remaining 113 stores at this time. But it's worth noting which stores are still open, as many were closed earlier this year when the company went into administration. Here is a list of all the locations that are still going strong:
- Aberdeen
- Ashford Outlet
- Basingstoke
- Bath
- Belfast Victoria Square
- Birmingham Bullring
- Bluewater
- Bracknell Lexicon
- Bradford Broadway
- Braintree Outlet
- Brent Cross
- Bridgend Outlet
- Brighton
- Bristol Cabot Circus
- Broadgate
- Bromley
- Bury St Edmonds
- Cannock Outlet
- Cardiff St Davids
- Castleford Outlet
- Canterbury Whitefriars
- Chelmsford
- Cheltenham
- Chesire Oaks Outlet
- Chester Foregate Street
- Chesterfield
- Chichester
- Clarks Village Outlet
- Colchester
- Coventry
- Crawley County Mall
- Cribbs Causeway
- Dalton Park Outlet
- Derby Intu
- Doncaster Lakeside Outlet
- Dudley
- Dundee
- Dunfermline
- Ealing
- East Midlands Outlet
- Eastbourne
- Edinburgh St James
- Enfield
- Fleetwood Outlet
- Foyleside
- Glasgow St. Enoch
- Gloucester
- Gretna Outlet
- Guildford High Street
- Gunwharf Outlet
- Harrogate
- Harrow
- Hatfield
- Hereford Commercial St
- Hounslow Treaty Centre
- Icon at O2 Outlet
- Inverness
- Kingston-Upon-Thames
- Lancaster
- Leamington Spa
- Leeds Briggate
- Leicester High Cross
- Lincoln Waterside
- Liverpool One
- Livingston Outlet
- Llandudno
- London Bridge
- Lowry Outlet
- Maidstone
- Manchester Arndale Centre
- Manchester Royal Ex
- Meadowhall High St
- Metro Centre Platinum Mall
- Milton Keynes
- Newcastle Eldon Sq
- Nottingham Bridlesmith Gate
- Oxford Street Soho
- Oxford Westgate
- Poole
- Preston
- Reading
- Romford
- Rushden Lakes
- Shrewsbury
- Skipton
- Solihull
- Southampton West Quay
- Southend
- Spalding Outlet
- St. Albans
- Staines
- Stockport
- Stratford City Westfield
- Sunderland
- Sutton
- Swindon Outlet
- Talke Hanley Outlet
- Taunton
- Thurrock
- Truro
- Tunbridge Wells Royal Victoria Place
- Uxbridge Market Square
- Warrington
- Watford
- Wembley Outlet
- White City Westfield
- Whiteley Village
- Wimbledon
- Winchester
- Windsor
- Worcester
- Worthing
- York Coppergate Walk
- York Depot
Leading a consortium of buyers, Auréa has made its largest transaction to date with the acquisition of The Body Shop. They have expressed their determination to "steer the Body Shop's revival and reclaim its global leadership in the ethical beauty sector it pioneered."
The Body Shop was founded in 1976 by Anita Roddick, a passionate advocate for causes such as rainforest preservation, women's rights, and animal rights. Despite her unconventional approach to business, The Body Shop quickly became a success. Just 10 years after its inception, the company was listed on the stock exchange for a whopping £80,000,000. People were drawn to their natural and cruelty-free products, such as their iconic body butter and vegan perfumes.
Roddick's priorities were clear when she famously said, "I'd rather promote bloody human rights than a bubble bath." Her passion for activism and ethical practices continued until her death in 2009, just a year after The Body Shop was bought by L'Oreal for £652 million. The franchise was then sold to Natura of Brazil for an even higher price of £880 million over 10 years later, before finally being acquired by Aurelius.
Unfortunately, even with a strong legacy and dedicated following, The Body Shop struggled to keep up with the competition from other natural beauty brands like Lush. The rising costs didn't help either, and the company was forced to close dozens of stores earlier this year. The business advisory firm FRP made the difficult decision to shut down 85 stores and cut 85 shop jobs and 270 office roles. This left many concerned about the future of the remaining 1,500 store workers.
But now, with the acquisition by Auréa, there is renewed hope for The Body Shop. Co-founder Mike Jatania is confident that with their investment in product innovation and customer experience, they can exceed the expectations of their loyal customers while staying true to the brand's ethical values. Charles Denton, the new CEO, also shares this vision, stating that they aim to restore the unique, values-driven, and independent spirit of The Body Shop.
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