Saturday, March 18, 2006

L'Oreal buys Body Shop chain

French cosmetics giant L'Oreal is making a debut in retailing by buying the Body Shop chain for $1.1bn. This marks an exit from the group by founder Dame Anita Roddick, although she will be retained as a consultant after the sale

Body Shop International plc , known as The Body Shop, is a chain of cosmetics stores founded by Anita Roddick, noted for selling its own line of products not tested on animals, and produced in an ecologically sustainable manner.

Body Shop was founded 30 years ago in Brighton, England, by Anita and Gordon Roddick, and there are now more than 2,000 stores around the world.
The Roddicks stepped down from managing the company in 2002, but have remained as non-executive directors and stand to bank around 117 million pounds ($204 million) from their 18 percent stake.

Anita Roddick, who will retain her current role as a consultant, said the company's values would not change.


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