Who is Mike Jatania - the Indian-origin tycoon who saved The Body Shop?

In a significant turn of events, The Body shop, a brand synonymous with ethical beauty and environmental advocacy, has been salvaged from potential collapse by a consortium spearheaded by Mike Jatania.

The deal, finalized on Saturday by Jatania's investment firm, Auréa, marks a pivotal moment for the iconic brand, promising not just survival but a revitalized push towards reclaiming its position as a leader in the ethical beauty sector.

A Strategic Acquisition

The Body Shop, founded in 1976 as an ethical beauty brand helmed by Anita Roddick, went into administration in February.

Auréa's acquisition has brought a fresh wave of optimism about The Body Shop's future. With a leadership reshuffle of Charles Denton as Chief Executive, teaming up with Mike Jatania as Chair, sends a strong signal that the brand is set to undergo significant transformations aimed at boosting its market presence and ethical standing.

The company expressed in a statement that under the new leadership, The Body Shop is poised to "steer the brand's revival and reclaim its global leadership in the ethical beauty it pioneered." This move is seen not just as a rescue but as a strategic expansion by Auréa, which is keen on leveraging The Body Shop's pioneering status and wide customer base to strengthen its footprint in the global beauty industry.

Who is Mike Jatania?

Mike Jatania's journey from a Ugandan immigrant to a prominent British tycoon is a testament to his entrepreneurial acumen.

Born in Kampala, Uganda, in 1965, Jatania moved to Britain with his family in 1969. His business career took off in the early 1980s when he joined the family-owned Lornamead business, a company that would grow under his leadership to encompass over 30 well-known brands selling in more than 50 countries. Some of the notable brands included Lypsyl, Woods of Windsor, Yardley and Harmony haircare - which he sold to rival Li & Fung for around £155 million more than a decade ago.

Jatania, a South Bank University graduate in Accounting, has been instrumental in transforming Lornamead into a powerhouse in the beauty and personal care industry, with successful acquisitions and strategic divestments that have shaped its global market presence.

Jatania's role in Lornamead has been marked by notable acquisitions from giants like Unilever and P&G. Moreover, his leadership culminated in the successful sale of Lornamead in 2013 to several strategic buyers including entities from China, India, and the USA.

According to NRI Entrepreneurs, Jatania is a supporter of several charities like 'Save the Children' and the Prince's Trust, the Duke of Edinburgh's Award, and number of others. He is also a trustee of the Tamasha Theatre Company, underscoring his broader interest in cultural and social entrepreneurship.