Photo ©: The Body Shop Careers
Brazilian beauty product manufacturer Natura Cosméticos has officially completed its purchase of The Body Shop from French cosmetics brand L’Oréal for €1B.
While The Body Shop promotes no animal testing, they have been facing a major decline in sales recently. Even though they’ve been Cruelty Free International-certified, L’Oréal is a big company that is big on animal testing. However, with Natura Cosméticos acquiring the chain, The Body Shop staff are hoping that successful financial times are soon to come.
“For The Body Shop to thrive, we need to take a long-term approach ensuring sustainable growth on every level,” Christopher Davis, The Body Shop’s head of CSR, told
Ethical Corporation. “We are now in a home where we can prosper again.”
Now under a new company, the staff is hoping to achieve what its initial goal was when the company launched their Enrich Not Exploit campaign, and are hoping to become the most ethical and sustainable company in the world. However, for that, they may have to reconsider some of their ingredients and go 100% vegan.
Natura has been ranked as “B-corp” which, according to the Community of Certified B Corporations, has to meet “rigorous standards of social and environmental performance, accountability, and transparency.”
Natura co-chairman, Guilherme Leal, said: “We are thrilled to welcome The Body Shop to the Natura group.
“This alliance creates a combination of companies that share a common purpose that goes way beyond usual business.
“A new force for good is taking shape.”
In addition, Jeremy Swartz, the current CEO of The Body Shop, will be leaving the office and a new CEO will be announced soon.
Natura also owns other leading brands, including Aesop. They are also cruelty-free and do not test on finished products, nor raw or active ingredients. Can the new acquisition save The Body Shop from a decline in sales? Perhaps the answer lies in plant-based products and the promise of sustainability.
#thebodyshop #crueltyfree
