The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Brazilian cosmetics company Natura & Co on Monday said it has begun studying a possible initial public offering (IPO) in the United States or spin-off of its Aesop brand, as it looks to fund its expansion.
Natura said that in the event of an IPO or spin-off the luxury cosmetics brand would continue to be led by its current chief executive, Michael O’Keeffe.
The announcement comes less than a month after Natura’s management denied rumours it was considering spinning off Aesop or selling the Body Shop, after a string of lacklustre quarterly results.
“The IPO has been assessed over the last months as an alternative to fund the accelerated growth of Aesop, and Natura & Co’s management has been taking the necessary steps to pursue such alternative.”
ADVERTISEMENT
Natura reported a wider-than-expected quarterly net loss in August, as inflation and tough market conditions put pressure on in its margins.
The company had announced a broad organisational shakeup in June, when chief executive and executive chairman Roberto Marques stepped down, handing over the reins of the company to board member Fabio Barbosa.
It said at the time it planned to increase the accountability of its business units after years of expansion fuelled by high-profile acquisitions.
By Peter Frontini; Editors: Mark Porter and Christopher Cushing.
Learn more:
How Aesop Plans To Keep It Culty
The luxury skin care company, now a certified B-Corp, has been forced to swiftly rethink how it reaches its customers during the pandemic. Chief Executive Michael O’Keeffe lays out its strategy.
Black founders carry a markedly higher burden when it comes to educating investors on the value and viability of their business ideas — but there is an art and science behind knowing when your brand is ready and what kind of investors will be the best fit.
Landing a retail partnership is often seen as a major milestone for beauty founders — but it brings a bevy of new challenges, from the logistical complexities to setting a marketing budget. Black entrepreneurs, who typically have far less capital to work with, often face tough choices.
The firm has been working on a listing since at least 2022, with previous attempts buffeted by volatile markets.
In a three-part series, The Business of Beauty explores how Black founders Monique Rodriguez, Danessa Myricks and more built, launched and scaled their multi-million-dollar businesses. In part one, a look at how these entrepreneurs found their niche and harnessed early lessons that were critical to their growth