THE WHAT? Fresh from the news that Aesop and The Body Shop are gearing up to open their first bricks and mortar locations in China later this year, Natura &Co has announced that the openings are part of a wider growth strategy, according to a report published by Nasdaq.
THE DETAILS The CFO of Natura &Co told investors during a conference call, per Nasdaq, that it is gearing up to expand its presence in China still more in 2023, at the same time, it could exit some less profitable markets.
THE WHY? Natura &Co’s cruelty free brands have eschewed China thus far under its ownership, despite the country’s huge appetite for beauty, but a relaxation of the rules allowing cruelty free brands to sell their wares without submitting to animal testing has opened up an irresistible opportunity for the Brazilian beauty firm.