Brazilian beauty conglomerate Natura & Co is considering a sale of The Body Shop after the skin care and cosmetics line saw another quarter of declining sales, according to a Monday securities filing.
Natura & Co, which owns the Avon and Natura brands and is in the process of selling its Aesop line to L'Oreal , wrote in the filing that its board of directors "recently authorized its management to explore strategic alternatives for The Body Shop," the filing said.
Late last year, Sao Paulo-based Natura denied rumors that it was considering a sale of The Body Shop.
On Aug. 15, the company announced second-quarter results and said sales at The Body Shop fell 12% to 800 million Brazilian reals, or $163.7 million.
However, The Body Shop has struggled to hang on to its market share and meet customers where they are after consumer habits shifted during the Covid pandemic, executives said during an August earnings call.
Organizations:
Co, Natura, L'Oreal, Retail
Locations:
Sao Paulo, U.S