In a groundbreaking achievement, The Body Shop, under new ownership by German equity fund Aurelius, proudly declares itself as the world’s inaugural global beauty brand with 100% vegan product formulations. This certification, endorsed by The Vegan Society, marks a significant stride towards sustainable and cruelty-free beauty.
**A Pioneering Feat: 100% Vegan Across All Ranges**
The Body Shop’s commitment to veganism is unwavering, encompassing skincare, body care, haircare, makeup, and fragrance. The entire product formulations portfolio has been rigorously certified by The Vegan Society, solidifying The Body Shop’s position as a leader in ethical beauty practices.
**Meeting Consumer Demands: A Shift in Industry Dynamics**
With more than one in ten young consumers prioritizing ‘vegan’ as a crucial factor in their health and beauty purchases, The Body Shop’s move aligns seamlessly with evolving customer preferences. This strategic shift addresses the burgeoning demand for vegan cosmetics, projected to witness a 6.31% compound annual growth rate between 2023-28, reaching a staggering USD 24 billion by 2028.
**Ian Bickley’s Perspective:**
Ian Bickley, Chief Executive Officer of The Body Shop, expresses pride in this monumental achievement. Having pioneered the fight against animal testing and introduced cruelty-free musk in fragrances, The Body Shop continues its legacy as a trailblazer in the beauty industry.