The Body Shop: Beauty industry tycoon closes in on deal
Entrepreneur Mike Jatania, who made his fortune building cosmetics brands, is gearing up to buy The Body Shop out of administration.
The tycoon is thought to be part of a consortium which has entered discussions with administrators handling the sale of the cosmetics chain, according to Bloomberg.
Ex-Molton Brown CEO Charles Denton is also part of the bid, sources have revealed. The retailer’s new owners are planning to retain all of its existing UK shops.
The Body Shop’s business across the majority of Europe and parts of Asia had already been sold to a family office ahead of the insolvency of its UK operations.
Jatania previously built a portfolio of personal care brands such as Harmony hairspray, Lipsyl lip salve and Yardley perfume through his family company Lornamead. He sold Lypsyl to rival Li & Fung back in 2013 for nearly £156m ($200m).
The tycoon has also made a host of property investments across the UK, including at Regent’s Crescent in London.
Rescue bids for The Body Shop were due last week, amid reports that administrator FRP was keen to wrap up the sale of the retailer’s remaining assets after its collapse in February.
Retail Gazette
Related news
Heinz unveils zero-sugar and salt ketchup
Heinz has unveiled its latest product, ‘Heinz Tomato Ketchup Zero’,…
Read more >Aldi seeks 1,000 store staff in major recruitment drive
Aldi has launched a major recruitment drive to support its…
Read more >Aldi targets 20 new store locations across the UK
Aldi has unveiled an updated list of priority locations across…
Read more >Related news
Fitch: Global economy recovering as tariff war eases – China and US may drive growth
Fitch Ratings expects stronger-than-expected economic performance in 2025: according to…
Read more >Melon import volume drops by 51 percent
Compared to last year, the volume of melon imports has…
Read more >The Hungarian Product trademark gives companies a sense of community and customers reliable quality
Professional cooperation based on mutual benefits enables businesses to overcome…
Read more >