Body Shop to exit Turkish market amid global financial struggles
A sign is pictured above the entrance to a branch of The Body Shop in central London, UK, on Feb. 12, 2024. (AFP Photo)
The U.K.-based cosmetics retailer The Body Shop is reportedly preparing to cease its operations in Türkiye by the end of 2024. The decision comes after the company declared bankruptcy in February 2024, which significantly impacted its global operations.
Company representatives confirmed to business-based patronlardunyasi.com that Kuwait-based AlShaya Group, the distributor for The Body Shop in Türkiye—as well as other global brands like Victoria’s Secret Türkiye and Starbucks Türkiye—will conclude its operations for the brand in the country at year’s end.
The representatives stated they currently have no information regarding such a new arrangement, while it remains possible for The Body Shop to maintain its presence in Türkiye by partnering with a new distributor.
Global challenges ripple into Türkiye operations
The decision to withdraw from Türkiye is seen as part of a broader crisis faced by The Body Shop globally. Struggling with financial instability and declining market performance, the company’s challenges have reverberated through its regional operations, including Türkiye.
The Body Shop began its Türkiye operations under AlShaya Group’s distributorship in 2003, with initial stores located in Metrocity and Tepe Nautilus shopping malls in Istanbul.
Four ownership changes in seven years
Founded in 1976 by Dame Anita Roddick in Brighton, England, The Body Shop has long been a hallmark of ethical beauty products. However, it has faced mounting difficulties in recent years.
French cosmetics giant L’Oreal acquired the brand in 2006 and the brand operated under it until 2017. The brand was purchased by Brazil-based Natura & Co in September 2017 for £800 million ($1 billion). In November 2023, the brand underwent another ownership change, being acquired by German investment firm Aurelius, which has offices in five European countries. Most recently, in September 2024, The Body Shop was sold to the Aurea Group, marking its fourth ownership transition in just seven years.
