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October 04, 2017

World News

Natura Taps David Boynton as The Body Shop CEO

Sao Paulo, Brazilian-based Natura Cosméticos SA has tapped David Boynton as CEO of Britain’s The Body Shop, according to a securities filing on Friday.

Boynton, who will replace current CEO Jeremy Schwartz on Dec. 4, has been the head of shirtsmaker Charles Tyrwhitt since 2016. He previously served several leadership roles in the French cosmetics company L‘Occitane Groupe SA.

Natura bought the lotions and soaps retailer from French cosmetics giant L’Oreal in July. The deal was reported to be for US$1.1 billion (€1 billion euros). L’Oreal had purchased The Body Shop for $833 million (£652 million pounds) in 2006.

The Body Shop was founded by British entrepreneur Anita Roddick in 1976 and earned the reputation as an eco-friendly company. Natura, which was founded by Luiz Seabra in São Paulo in 1969 and is one of Brazil’s biggest brands, is noted for its commitment to sustainability and uses biodiversity ingredients in its products. Natura was the first publicly traded company to become certified as a B-corporation.

In acquiring the Body Shop, which has more than 3,000 stores in 66 countries, Natura bolstered its international expansion. In 2013 the company purchased Australia’s Aesop for $70 million. Aesop has 261 locations in 20 countries.