The Body Shop staff fear company will be broken up, risking 2,200 jobs. Aurelius, the German restructuring specialist which bought The Body Shop last year and has now put it into administration, had previously broken up two other UK retailers. Staff at the ethical cosmetics group fear it will be next. (The Guardian)
The FT looks at how The Body Shop unravelled in three months. The cracks were quick to emerge, with trading far worse than expected over the critical festive period when Natura remained in charge, according to the person close to Aurelius. Following the shock of poor Christmas trading, Aurelius was quick to protect its investment in the struggling company. (Financial Times £)
No end in sight for boom in bargain sales. The value retail sector has enjoyed double-digit growth as the economy struggles but experts believe it will continue even when the crisis eases. “The trend for discount retail had been quietly building steam for more than a decade but has accelerated rapidly since the start of the pandemic, profiting from consumers cutting back on non-essential items in the face of rising bills.” (The Times £)
Battle of the bottles as Diageo and Pernod Ricard go head to head. The recent profit warning from the FTSE 100 constituent has left the door ajar to its French rival and Alexandre Ricard, the Pernod chief executive and grandson of the founder, narrowed the gap yesterday with a solid if uninspiring trading update. (The Times £)
The keen appetite for a healthier, non-alcoholic alternative to traditional beer is fuelling innovation as brands explore ways to mimic the taste of traditional beer. (BBC)
Whisky takes a shot at China’s baijiu-dominated market. In 2022 sales of whisky in China were valued at $2.3bn, according to market research firm Euromonitor International. That figure is expected to almost triple by 2027 as the whisky market there is expected to grow at around five times the rate seen globally. (BBC)
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