The Body Shop’s new CEO announced
The British brand, known for its green credentials and ethical brand profile, was sold to Natura in June this year for 1 billion euros (USD 1.2 bn).
Natura is a Brazilian manufacturer and marketer of beauty products, household, and personal care, skin care, solar filters, cosmetics, perfume and hair care products.
The appointment of the new CEO was reported by Reuters, which notes Boynton is listed as CEO on a securities filing.
A new direction
Boynton will replace current CEO Jeremy Schwartz on December 4, having held a leadership role at fashion company Charles Tyrwhitt since 2016. Reuters notes that he previously served several leadership roles at L‘Occitane Groupe SA.
Hannah Symons, beauty and personal care analyst at Euromonitor, comments that the Natura acquisition marks something of a fresh start for The Body Shop brand.
“The Body Shop being a pioneer of ethical sourcing and social responsibility in the beauty and personal care industry, makes it a perfect match for Natura’s green approach to production and plant-based heritage,” she says.
“These shared values will help nurture the defining integrity of The Body Shop on an even greater global stage. This comes at a crucial time when many consumers are redefining their priorities and ethical consumption is topping agendas.”
Symons notes that while the majority of 2016 Body Shop sales came from developed markets, Natura opens the brand up to a strong showing in emerging regions, which accounts for 98% of the new parent company’s value in 2016.
“Undoubtedly, this exposure will provide a necessary springboard for The Body Shop to expand further into valuable emerging territories to help revive growth,” the analyst suggests.
“In this case the acquisition would be a happy marriage; reducing Natura’s reliance on Brazil, whilst mitigating The Body Shop’s risk in stagnating developed regions."
