Earlier last week, the Directors of The Body Shop International appointed Tony Wright, Geoff Rowley and Alastair Massey of business advisory firm FRP as Joint Administrators of the company, which operates The Body Shop’s UK business.
On speaking about the announcement of plans for restructuring the UK business, the administrators said the head office job cuts and certain store closures in the UK market were part of creating a forward-looking strategy and more agile, financially viable model and that swift action would help re-energise the iconic beauty brand. They added that relationships with key franchise and wholesale partners in Asia, the Middle East and Europe would be a cornerstone of future success.
The Joint Administrators will continue to trade the business in the UK whilst in administration, ensuring customers can continue to shop in-store and online for their favourite products.
The Body Shop India is a Head Franchise Market. This administration process relates to The Body Shop UK business only and does not impact the Global Head Franchise Partners, according to a press release.
Global Franchisees are central to The Body Shop’s long-term international strategy. Stabilising and strengthening the central core of the business will support The Body Shop’s international strategy.
Shriti Malhotra, Group CEO, Quest Retail – The Body Shop India, reflecting on the business and growth in the country says, “The news that’s been reported relates to The Body Shop UK only. This administration process does not impact The Body Shop India as it is a Head Franchise Market. All our stores are open as usual! Customers can shop in our stores and online for their favourite products. The Body Shop stands out as the largest international beauty retailer in India, with nearly 200 stores nationwide and catering to 1500+ cities via our online reach. India is one of the top markets for The Body Shop globally, and our consistent growth reflects the popularity of The Body Shop and the immense opportunities we are tapping into. The Body Shop India will continue to scale-up and focus on omni-channel expansion, while leveraging newer opportunities in retail, quick commerce and high convenience formats, so that the strong brand affinity built in India is well supported by easy and expansive access to our customers.”
