The Brazilian cosmetics company is on track to meet its 2023 revenue goals as its performance received a boost.

Natura, which also owns Aesop, aims to find a way of increasing its China presence without testing its products on animals.

The transaction, valued at $3.7 billion, will position the Brazilian cosmetics company as a growing force in the booming global cosmetics and skincare industry.

This week, Paul Andrew is appointed women's creative director of Salvatore Ferragamo, while Vice Media names Tammy Smulders as president of its fashion group.

Private equity firm Investindustrial has invited the investment vehicle of Alibaba founder Jack Ma to join a consortium offering to buy The Body Shop for more than €800 million, sources have said.

The sale by L'Oreal, which has owned The Body Shop since 2006, has drawn interest from a series of private equity investors and a decision is expected in the coming months.  

The French giant is reported to have chosen Brazilian cosmetics firm Natura Cosmeticos as well as a number of firms like CVC Capital Partners and Investindustrial Advisors  for the next round of auction for its Body Shop business.

The retail chain is reported to have attracted bids from around 15 private equity firms and companies, including CVC Capital Partners, Carlyle Group and South Korea’s CJ Group.