It is with hope and anticipation that we reflect on the recent news that The Body Shop Canada will soon sell 59 of its 72 properties to a private equity firm, following its previous closure of 33 stores and the end of its online sales.
Since its inception in England by Dame Anita Roddick in 1976, The Body Shop has been a thriving enterprise, supplying naturally-inspired and ethically sourced beauty products directly to consumers around the world, both in its physical stores and through its website.
Unfortunately, increased competition in the ethical beauty space is believed to have been the catalyst for the closure of 33 of its stores and its Canadian website in early 2024. However, as widely reported in December, The Body Shop has now received approval from an Ontario court to progress with its plans to sell 59 of its properties to Serruya Private Equity Inc., a powerful investment entity that has a presence across a variety of sectors including automotive, real estate and fast food.
It is hoped that this new acquisition will mark a revival for the struggling franchise. As The Body Shop continues to dominate business news headlines across Canada and beyond, there is a possibility that its brand recognition will grow as curious shoppers investigate the many offerings of this ethical beauty brand.
Serraya's timelines and plans are being kept a well-guarded secret, but what we do know is that the private equity firm will be looking to the future and figuring out how to restore the brand's previous success. They have already proven themselves to be innovative forward thinkers, based on the success of previous acquisitions, and having already praised the ability of The Body Shop's Canadian leadership team to think outside of the box, it is likely that the changes will be impactful and lasting.
Serraya has already reassured The Body Shop's loyal consumers that the products will continue to be sourced from the UK and will be of the same high quality that they always have been, maintaining their trust and nurturing their affiliation as the brand enters this new chapter.
At Be The Boss, we believe there are plenty of reasons to be optimistic about this acquisition and wish Serraya and The Body Shop Canada all the best in their endeavours.
