The Body Shop to reportedly offload portion of European and Asian operations

The Body Shop is understood to be mulling the sale of a significant portion of its business in Europe and Asia, representing an estimated 14 percent of its global operations.

The retailer confirmed the report in a statement to Cosmetics Business, where it further noted that the sale would not impact its business in the UK.

The company told the media outlet: “This further prioritises The Body Shop’s strategically important markets and Global Head Franchise Partner relationships, which it will look for opportunities to build.

“The Body Shop will also focus on more effectively reaching customers by strengthening digital platforms, developing new sales channels, and via differentiated retail experiences.”

A spokesperson explained that the potential sale would help to bolster operations in other key markets, as the company looks to create a brand that is able to “compete for the long term” and “deliver financial stability”.

The news shortly follows The Body Shop’s announcement that its interim CEO, Ian Bickley, was to step down after Aurelius Group completed its acquisition of the brand.

The private equity firm snapped up The Body Shop last year in a 207 million pound deal with Natura &Co, which had offloaded the company as part of a strategic review that sought out an owner that could “nurture the brand DNA” following a drop in revenue.