The Body Shop is progressing towards recovery by adopting a ‘market by market’ approach, concentrating initially on Spain and Portugal.
- The brand experienced significant setbacks following several international closures, notably in the US, Canada, and Europe.
- CEO Charles Denton has outlined a structured strategy to re-establish the franchise with the help of key partners.
- Efforts are being led by Veneta Petkova and Diego Ortiz de Zevallos, responsible for managing the operations in the Iberian Peninsula.
- The company’s recent structural changes include selling business segments in Europe and Asia to a private equity firm.
In a bid to overcome recent challenges, The Body Shop is operating a meticulous recovery strategy by focusing on rejuvenating its market presence in specific regions, starting with Spain and Portugal. Charles Denton, the CEO, has publicly stated that recovery is being pursued ‘market by market, product by product, customer by customer’. This approach comes after the brand faced closures in several international locations, including the USA, Canada, and various parts of Europe, following the administration of its UK arm.
Building upon its current foothold in the Iberian Peninsula with 72 stores, 48 located in Spain, Denton expressed optimism regarding the recovery process on LinkedIn. He highlighted the contributions of dedicated partners like Veneta Petkova, who oversees franchise operations in regions such as Bulgaria, Kosovo, North Macedonia, and Albania, and Diego Ortiz de Zevallos, tasked with managing operations throughout Spain.
These efforts signal a deliberate move towards fostering sustainable growth, as noted by Denton, who explicitly praised Petkova and Ortiz de Zevallos for their commitment to ethical beauty and acknowledged their roles as vital to the brand’s resurgence across Spain and Portugal. Their leadership is integral during this revitalisation phase, aiming to build long-term resilience.
The restructuring of The Body Shop also involved significant changes in its ownership, with the recent sale of its operations throughout mainland Europe and parts of Asia to an international family office. This decision came shortly after a private equity firm, Aurelius, acquired the brand, leading to bankruptcies in Belgium, Austria, Germany, and Luxembourg.
The Body Shop is steadfastly working towards a renewed presence in targeted markets, laying a foundation for sustainable growth.
