Indian-origin cosmetics tycoon rescues The Body Shop stores in UK
Indian-origin cosmetics tycoon rescues The Body Shop stores in UK
LONDON: Embattled beauty brand The Body Shop has been rescued from administration with the help of investment from Indian-origin cosmetics tycoon Mike Jatania in a deal that will keep its remaining 113 UK stores trading, it emerged on Saturday.
According to the 'Guardian' newspaper, a consortium led by Jatania-founded growth capital firm Auréa had bought all the Body Shop International's assets, which include its UK stores and control of outposts in Australia and North America for an undisclosed sum.
"With the Body Shop, we have acquired a truly iconic brand with highly engaged consumers in more than 70 markets around the world," said Jatania.
