Who owns body shop now

They're constantly chasing their tail, having to work hard to attract people into a store," he says. When the deal was struck, founder Dame Anita - who died just a year later - was forced to reject claims that The Body Shop, known for its ethically sourced goods, was joining with "the enemy".

There were concerns that some of the ingredients L'Oreal then used in its products had been tested on animals, while The Body Shop was publicly opposed to animal testing. The French firm insisted the brand would complement its existing offering, giving it increased presence in the "masstige" sector - mass market combined with prestige.

But Charlotte Pearce, an analyst at consultancy GlobalData Retail, believes the firm has "slightly lost its way" under L'Oreal's ownership. It's not known as a brand which is innovative and new, and it's failed to keep up with market trends - contour sticks, kits and palettes were a strong trend in , and these are nowhere to be seen in The Body Shop's range," she says.

These days the firm is not seen as "a trendy brand", but mostly as a shop for gifting and low-value items, such as its body butters and body lotions, she says. Nonetheless, Prof John Colley from Warwick Business School believes there will still be plenty of interest from private equity funds. He expects the firm to be sold with its current separate management team, who he says are likely to have their own ideas for how to improve it.

But anyone bidding will see a clear turnaround. Independent ownership would probably serve the firm well. A refreshed image would almost certainly work," he says.

Mr Hyman, too, believes a new owner could improve The Body Shop, particularly by selling the chain's products outside its own shops. But he says trying to offload the large store estate with long committed leases will be a hindrance to any buyer. Dame Anita Roddick, who founded the firm in at the age of 34, said her original motivation for the firm was simply to make a living for herself and her two daughters while her husband was away travelling.

L'Oreal bought the business for around m euros in at the height of its success but it has failed to thrive since. For its part, Natura is Brazil's top business in cosmetics, perfumes and toiletries. It sells products in seven Latin American countries as well as in France.

Echoing the ethical stance of The Body Shop, Natura says its aim is to "improve the environment and society". The proposed deal with L'Oreal was first unveiled earlier this month. At the time, the L'Oreal chairman and chief executive, Jean-Paul Agon said Natura was "the best new owner we could imagine to nurture the brand DNA around naturality and ethics".

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