The Body Shop CEO reveals ‘market by market’ comeback following Iberia owner shift

After proceeding into a lengthy administration process, The Body Shop appears to be making a slow, yet determined return. On the heels of confirmation that it had secured a new owner for its Iberia business, the cosmetics retailer’s CEO, Charles Denton, has reaffirmed that a comeback is on the horizon.

In a post on LinkedIn, Denton said: “We’re on our way back, market by market, product by product, customer by customer. Veneta [Petkova, head franchisee of certain Eastern European regions, ed.] and Diego [Ortiz de Zevallos, former managing director of The Body Shop Iberia, ed.] are deeply committed to The Body Shop, they are champions of ethical beauty and wonderful partners. We look forward to extending this relationship as we build a sustainable future together in Spain and Portugal.”

His statement follows confirmation that The Body shop had secured new owners in Iberia, revealed to be Petkova and Ortiz de Zevallos, who will jointly lead the company’s “new chapter in the market”. The company currently operates 72 shops in the region, alongside partnerships with a network of third-party distributors.

In a joint statement on LinkedIn published by The Body Shop Iberia, Petkova and Ortiz de Zevallos said: “We are excited to lead this brand in Iberia, which we have admired for years and believe we have a great future ahead of us.”

In early September, The Body Shop had secured a rescue deal by a consortium led by British tycoon Mike Jatania after it fell into administration at the beginning of 2024. The UK-based deal saved around 1,300 jobs and 113 of the brand’s UK stores, as well as its assets in North America and Australia. It was at this time that Denton was named CEO.