Fashion
Operated by a Malaysian firm in some Southeast Asian locations, cosmetics retail chain The Body Shop Vietnam posted its first loss last year after three years of declining profits.
InNature Berhad, which owns The Body Shop Vietnam, said that the company has been unaffected by the shutdown of The Body Shop U.S. operations last week. The company also operates The Body Shop in Malysia and Cambodia.
The Body Shop, a 50-year-old brand founded in the U.K, has been scaling down its operations in the U.K. and Canada.
The first The Body Shop store in Ho Chi Minh City opened in 2009. After 15 years, it now has 41 outlets nationwide.
Revenues before Covid-19 were on the rise from VND112 billion in 2018 to VND162 billion in 2020. Its annual growth rate of over 20% were higher than InNature Berhad’s revenue, which dropped 8.8%.
