The growth capital firm co-founded by Mike Jatania and Paul Raphaël has announced the completion of the acquisition of The Body Shop by Auréa.
Founded in 1976, The Body Shop 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.
Hence, this investment from Auréa Consortium demonstrates the growth capital firm’s focus on backing purpose-led and differentiated brands in the Beauty, Wellness and Longevity sector and represents its largest transaction to date.
With this development in place, Auréa’s Jatania will now serve as the Executive Chairman of the company and Charles Denton will take on the helm as CEO.
That being said, the two, with their prior experience and proven track record in successfully transforming heritage brands into sustainable growing businesses, will jointly steer The Body Shop’s revival and reclaim its global leadership in the ethical beauty sector it pioneered.
Additionally, the acquirer- Auréa will also apply its investment acumen, deep industry knowledge and operational expertise to rebuild the business while honouring the heritage and values that connect the brand with its customers.
Commenting on the development, Mike Jatania, Co-Founder, 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.”
To this, Charles Denton, CEO, 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.”
Furthermore, Shriti Malhotra, Group CEO, Quest Retail– The Body Shop India, also reacted to the development and 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.”
