02.13.17
According to the Associated Press, L'Oreal has confirmed that it is considering selling The Body Shop. In an earnings release, CEO Jean-Paul Agon, said, "it has been decided to explore all strategic options" for the subsidiary, but that the company had made no decisions yet. The Financial Times had earlier reported that the business could be sold for about 1 billion euros ($1.1 billion).
The Body Shop hasn't kept pace with the company, and suffered a 6% decline in sales in the fourth quarter of 2016. L'Oreal's overall sales rose 5 percent in the period.
In 2006, L’Oréal paid £652million for the British beauty chain, which it then grew from 2,000 to more than 3,000 shops.
The Body Shop hasn't kept pace with the company, and suffered a 6% decline in sales in the fourth quarter of 2016. L'Oreal's overall sales rose 5 percent in the period.
In 2006, L’Oréal paid £652million for the British beauty chain, which it then grew from 2,000 to more than 3,000 shops.
