Jun 27, 2017
L’Oréal sells The Body Shop to Natura Cosméticos
L'Oréal signed a contract on Tuesday to sell The Body Shop to the Brazilian cosmetics maker Natura Cosméticos as it seeks to grow internationally. "L'Oréal announces that the contract for the sale of The Body Shop to Natura was signed," L'Oréal said in a statement on Tuesday. The Body Shop has faced increasing competition from other brands offering similar products based on natural ingredients with no animal testing. "The acquisition of The Body Shop is a decisive step in making Natura Group an international player in the cosmetics industry, following in the footsteps of our previous acquisition of Aesop in 2013," said João Paulo Ferreira, Natura's chief executive, during a conference call after the announcement was made on June 9. "In a sense, Natura and The Body Shop are like twins. We have been walking parallel paths in the past, and today, those paths are converging. We both share a same vision of cosmetics, advocating the use of natural ingredients, seeking to use our business as a platform to raise environmental consciousness," he added.
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