The Body Shop Announces Transition to Completely Vegan Product Compositions
Let's Get Real:
- The Body Shop has cracked the nut, going 100% vegan across their badass product lineup - skin care, body care, hair care, makeup, and fragrance. They've been certified by the Vegan Society, a goal they've been chasing since 2021. However, there might still be a few old, discontinued products, that haven't been Vegan Society-approved, floating around in the market since they're being sold through.
- To celebrate this achievement, The Body Shop dropped a fresh marketing campaign, "Yes! Another vegan." - It takes a comedic shot at common misconceptions about vegans.
The Juicy Details:
"We did it!" exclaimed Ian Bickley, The Body Shop's big cheese, in a statement. "Vegan beauty matters to millions worldwide, and we've been grinding on this milestone for yonks."
In their announcement, The Body Shop references some mind-boggling stats from Research and Markets. They predict the vegan cosmetics industry will skyrocket with a 6.31% compound annual growth rate between 2023 and 2028, hitting $24 billion by 2028. Plus, data from YouGov cited by the retailer shows that over 10% of young consumers consider vegan to be an essential factor when buying health and beauty products.
This makes The Body Shop the first global beauty brand to snag this achievement. They've been vegan pioneers since 1989 when they first took a stand against animal testing, following the footsteps of their eco-warrior founder, Anita Roddick, who launched the brand in 1976 with commanding products that were sourced ethically and contained all-natural ingredients.
Last November, The Body Shop's parent company, Natura & Co., sold it to private equity firm Aurelius for a cool 207 million pounds ($257 million at the time), with an additional 90 million pound earn-out. Back in 2021, Natura & Co. also shed Aesop to L'Oréal for $2.5 billion.
Currently, The Body Shop operates a whopping 2,500 stores globally, with 173 right here in North America. Last year, they opened seven new stores in North America, with 4 more lined up for 2024.
What It All Means:
The Body Shop's move to full vegan is a giant leap in the $21 billion vegan cosmetics market. By combining vegan certification with transparent sourcing and ethical campaigns, they're making waves among eco-conscious consumers, who increasingly prioritize both cruelty-free status and sustainability. The newest offerings, including the hydration-focused routines and fragrance innovations, prove that vegan formulations are gaining mainstream appeal across product categories.
- The Body Shop's transformation into a 100% vegan brand, as of their latest product lineup, aligns with the growing trend in the vegan cosmetics industry predicted to reach $24 billion by 2028, according to Research and Markets.
- As the first global beauty brand to achieve full vegan certification, The Body Shop leverages their longstanding commitment to animal rights, initiated back in 1989 and rooted in their eco-warrior founder's vision.
- TheBody Shop's recent marketing campaign, "Yes! Another vegan," humorously addresses misconceptions about vegans, further emphasizing their dedication to all things vegan, health, and wellness.
- Although a few discontinued, non-vegan products might still be present in the markets, The Body Shop's current product offerings, including formulas in skincare, body care, hair care, makeup, and fragrance, are all Vegan Society-approved.
- With the increasing number of consumers prioritizing cruelty-free status and sustainability in health and beauty products, The Body Shop's move toward vegan formulations signifies a shift in the fashion-and-beauty and lifestyle markets.
- AI and business strategies have played crucial roles in The Body Shop's journey, enabling them to contend with market changes and expand their footprint, with 173 stores across North America and plans for 4 additional openings in 2024.
- The transition to a full vegan brand highlights The Body Shop's continued commitment to ethical practices and environmental stewardship, demonstrating that vegan formulas can gain mainstream appeal and satisfy discerning consumers.
