How the Body Shop lost its way — and what its new owners will do next
When the late Dame Anita Roddick collected a CBI “Company of the Year” award in 1987, the founder of The Body Shop provocatively described the assembled captains of industry as “dinosaurs in pinstriped suits”.
Roddick’s disdain for myopic pursuits of profit went against the grain of corporate culture back then, yet now businesses everywhere trumpet their commitment to sustainability. For all that, though, her company is no longer scrubbing up well.
Against the backdrop of falling sales, the latest Body Shop owner — the Brazilian beauty giant Natura — said last Tuesday it would be offloading the once-pioneering health and beauty retailer to the private equity firm Aurelius for a knockdown £207 million — just £117 million of which will be paid up front.
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