L’Oréal is said to be eyeing up a possible sale of the naturals brand The Body Shop, according to The Financial Times.

According to the paper, the French beauty giant is looking at a possible $1billion outright sale as one of the ‘most likely options’ and is working with bankers at Lazard to look at options for the UK-based company.

With L’Oréal due to release its 2016 annual results tomorrow, it is thought the company will also announce its plans for The Body Shop, which has reported ailing sales in contrast to the success of the French beauty house. The Body Shop like-for-like sales fell by 0.6 percent in the first half of 2016, with operating profits falling from EURO22m to EURO7.2m.

The Financial Times has reported that there are already interested parties in the brand.