“The Body Shop Vietnam is not affected by the ongoing restructuring process worldwide“, The Body Shop’s fanpage on Facebook recently announced.
According to additional information provided, The Body Shop Vietnam is part of the InNature Berhad group, listed on the Kuala Lumpur Stock Exchange in Malaysia. InNature owns more than 122 The Body Shop stores in 3 countries: Malaysia, Vietnam, and Cambodia.
The Board of Directors of InNature affirmed that their business model in the 3 markets for The Body Shop is a global franchise partnership. The ongoing restructuring activities in the UK, US, and other markets have no impact on the business operations of InNature Berhad.
The 38th store in Vietnam of The Body Shop is located at Vincom Dong Khoi (HCMC)
In 2024, The Body Shop in Vietnam plans to expand its network with additional stores in busy central areas in HCMC and Hanoi, as well as continue to boost its online business which is currently booming in Vietnam, especially through social media.
On February 25th, The Body Shop Vietnam celebrated its 15th milestone in Vietnam with the newest flagship store at Vincom Dong Khoi, HCMC – the 38th store in Vietnam of the brand.
Following that, on March 8th, the brand organized a media event to celebrate the grand opening, in collaboration with Miss Universe Vietnam 2017 H’Hen Niê, introducing the strategic social campaign for 2024 which includes “Trade In Your Old Clothes For New Journeys”, fundraising for planting native forests and building libraries for children in highland regions.
The announcement from The Body Shop Vietnam comes after global media reported that The Body Shop brand has filed for bankruptcy and closed all branches in the US along with many facilities in Canada. Meanwhile, numerous other markets have also closed down and laid off employees.
In Australia, the cosmetics brand still has over 100 outlets. However, they are struggling to pay suppliers due to cash shortages following the announcement from their parent company in the UK that they are unable to make payments. In the UK market, The Body Shop will close 75 stores and lay off nearly 800 employees.
The Body Shop brand is famous for products that are advertised as natural, sustainable, ethical, and non-toxic. The brand was founded in 1976 in the UK by human rights activist and environmental campaigner Anita Roddick, targeting primarily younger customers who are increasingly conscious of environmental protection and ethical business practices.
After changing ownership several times, The Body Shop name has weakened in recent years. In a report in early 2023, Natura – the company that acquired The Body Shop in 2017 – admitted that the brand is facing headwinds as sales decreased by 13.5% in 2022 compared to the previous year. At the end of 2023, The Body Shop was sold by Natura to asset management group Aurelius for approximately $266 million.
