Co-founded by Mike Jatania and Paul Raphaël, Growth Capital Firm Auréa announced it has completed its acquisition of The Body Shop. This investment showcases its focus on backing purpose-led and differentiated brands within the Beauty, Wellness and Longevity sector, marking the largest transaction in Auréa to date.
Since 1976, the Body Shop has endeavored to be a force for good – a benchmark for ethical beauty, offering top-quality, innovation-driven skin and body care, haircare, and makeup made with natural and fairly traded ingredients from around the world.
Mike Jatania will serve as Executive Chairman, and Charles Denton as Chief Executive Officer. They are jointly charged with steering the revival of The Body Shop and leading this company globally in the field of ethical beauty that it founded.
Mike and Charles bring a wealth of experience and a strong track record in the successful transformation of heritage brands into sustainable, growing businesses. Auréa will bring investment acumen, deep industry knowledge, and operational expertise to the rebuilding of the business while honoring the heritage and values that have connected the brand with its customers over the years.
Mike Jatania, Co-founder of Aurea said, “With The Body Shop, we have acquired an iconic brand with highly engaged consumers in more than 70 markets around the world. We want to be very focused on going above and beyond their expectations through investment in product innovation, seamless experiences across all channels where customers shop, while paying homage to the ethical and activist positioning of the brand.
Charles Denton, chief executive officer of The Body Shop said: “I am really 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.”.
Speaking to ET Retail on the news of the global acquisition, Shriti Malhotra, Group CEO Quest Retail – The Body Shop India said, “The Body Shop India welcomes this exciting news. We are looking forward to a tremendous energization of the brand with new ownership at the helm and accelerated growth “. Also, The Body Shop India is very close to the customers’ hearts through its robust omnichannel presence with 200+ stores and online presence in 1,500+ cities through a strong e-commerce and quick-commerce network. So, when immense opportunities lie ahead of us, it would be exciting to work with a new owner.”
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