TORONTO — Retail consultants say The Body Shop Canada’s expected buyer has plenty of work to do, if it wants to reinvigorate the brand.
The purchaser is an affiliate of Markham, Ont.-based Serruya Private Equity Inc., which is led by the co-founder of Yogen Früz and has invested in St. Louis Bar and Grill, Second Cup and Swensen’s.
Liza Amlani, co-founder of the Retail Strategy Group, says the buyer has largely focused on yogurt and automotive businesses, making it a surprising owner for The Body Shop Canada.
If Serruya wants to be successful with its acquisition, J.C. Williams Group retail strategist Lisa Hutcheson says the company will have to first remind customers that the retailer hasn’t shut down.
Then, she says the new owner will have to focus on amping up the store experience, so shoppers feel The Body Shop’s locations are worth visiting.
Any changes though will have to wait until the court approves the retailer’s sale to Serruya. A hearing has been set for Friday and if approval is obtained, the transaction is expected to close Monday.
This report by The Canadian Press was first published Dec. 12, 2024.
Tara Deschamps, The Canadian Press