The South Korean business conglomerate CJ Group are considering a bid for struggling beauty retailer The Body Shop.
CJ Group is understood to be eyeing the retailer, which was put up for sale by owner L’Oreal in February, although it has not yet put forward a bid for the business.
Other prospective bidders for the beauty retailer include former L’Occitane boss Emmanuel Osti in parternship with CVC Partners as well as private equity firms Apax Partners and Advent International.
L’Oreal snapped up The Body Shop in 2006 for £652m and has put the retailer up for sale for €1bn (£851m), though industry experts expect offers to be closer to €700m (£599.4m).
The beauty retailer, which posted a slump in full-year profits in February, appointed former retail director Linda Campbell as general manager of its UK division earlier this year.