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From cult status to closure fears — what happened to The Body Shop? – CBC.ca

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It’s a store you know by scent.

For decades, the sometimes-overwhelming aroma of The Body Shop’s satsuma soaps and coconut body butters have wafted through mall concourses, as much a staple to the culture as the food court.

The U.K.-based beauty and cosmetics shop has more than 3,000 retail locations in 70 countries, including 110 standalone shops in Canada. In the 1990s and early 2000s, the store practically took on cult status with teenagers and young adults who sought out naturally-based ingredients and swore by its tea tree oil line.

But just a few weeks after The Body Shop International was acquired by private equity firm Aurelius Investment, the company is reportedly appointing administrators, a move that could likely lead to job losses and store closures in the U.K. — although it’s not yet clear whether stores in Canada will be affected.

Putting a company into administration if it cannot pay its debts protects it from legal action or creditors.

The move is fairly typical when a private equity firm takes ownership and needs to make profit and cut losses in a very short period of time, Kai Li, a professor of finance at UBC’s Sauder School of Business and Canada Research Chair in Corporate Governance, told CBC News.

Plus, she said, the economic impacts of Brexit are starting to spill over into the U.K.’s retail market.

“This is a weak market for them, so they’re just cutting their losses,” Li said. “A very much-loved brand is now unfortunately on the chopping block.”

CBC News has reached out to Aurelius and The Body Shop for comment, but had yet to receive a response at the time of publication.

According to Sky News, which first reported on the appointment of administrators, the administration process for The Body Shop’s U.K. operations “will not impact the brand’s global franchise partners.” 

Weak period of sales: report 

Sky News reported that Aurelius is allegedly lining up restructuring expert FRP Advisory to manage an insolvency process. This follows a weak period of trading over the Christmas holidays and January, according to media reports.

Fans of the store have decried the news, including British actor Adjoa Andoh of Bridgerton.

“Heartbroken at the demise of The Body Shop, for its body butters, make up range, ethical value system, solidarity with communities across the world who grow the ingredients. I have been shopping continuously at The Body Shop since the 1970s. I am bereft,” the actor wrote on X, formally known as Twitter.

Other users called the store “revolutionary” for its greener, ethical approach to business. The beauty brand has campaigned for decades against animal testing in cosmetics.

British columnist Zoe Williams wrote in the Guardian Monday that she would mourn The Body Shop, which she describes as “a gateway to politics for animal-obsessed teenagers like me.”

A black and white photo of a woman standing outside a storefront for The Body Shop.
Anita Roddick, the British businessperson, human rights activist and environmental campaigner who founded of The Body Shop, poses in front of a store on April 10, 1984. (Larry Ellis/Daily Express/Hulton Archive/Getty Images)

The Body Shop was founded in 1976 in Brighton, England, by Dame Anita Roddick. It focused on offering naturally-inspired skin care, body care, hair care and make-up that was ethically and sustainably produced at a time when those practices weren’t yet mainstream. 

Roddick died in 2007 at age 64.

“The pre-digital disruptor, Anita Roddick and The Body Shop were brave, instinctive and unignorable,” U.K. MP Peter Kyle wrote on X Monday.

Changing hands

The brand first expanded into Canada in 1980, and today has about 110 standalone stores. In 2004, The Body Shop Canada sold itself to its U.K. parent company, the Body Shop International, for about $26 million.

In 2006, the company joined L’Oreal Group, then in 2017 it joined Brazilian company Natura &Co. In December, the company was acquired by Aurelius Group.

“Despite the challenging retail market there is an opportunity to re-energize the business to enable it to take advantage of positive trends in the high-growth beauty market,” Aurelius said in a November news release announcing the upcoming acquisition.

WATCH | Why ‘Sephora kids’ are taking over: 

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Social media is abuzz about the number of tweens obsessed with makeup and skin care in a trend dubbed ‘Sephora Kids.’ CBC’s Anya Zoledziowski explains how they’re getting hooked and why experts have mixed opinions on whether we should be worried about it.

A spokesperson for Natura &Co told CBC News the company was surprised to learn through the media of Aurelius’s intentions to appoint an administrator. In an email statement, the spokesperson added the company was “especially concerned by reports that certain outstanding payments owed to current and former employees of The Body Shop have not been paid by Aurelius.” 

Part of the terms of the sale between the two companies included these payments through an agreed-upon reduction to the purchase price, the spokesperson said. Natura &Co sold The Body Shop for 207 million pounds, or about $351 million Cdn.

“We have sought an explanation from Aurelius for the failure to make these payments and have contacted Aurelius and its advisors on several occasions regarding these matters.”

Administration decision ‘a reality check’

Li calls Aurelius’s reported decision to appoint administrators “a reality check.”

“It also bodes badly for other Body Shop operations around the world. They might be the next, it really depends on what they can contribute to the bottom line of the new owners.”

Last year, The Body Shop brand was launched at 50 Shoppers Drug Mart stores across Canada.

The Body Shop also opened a handful of “Changemaker’s Workshop” stores in major Canadian cities to “empower Canadians to channel their inner activist” — welcoming higher traffic and sales compared to traditional stores, according to Hilary Lloyd, VP of brand & corporate social responsibility for The Body Shop North America.

Canadian beauty industry sales rose 18 per cent in 2023, according to global analytics firm Circana. The firm predicts and overall global increase will continue this year, especially for higher-end products.

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If You Want a Less Frustrating Job Search, ‘Go With the Flow’

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Why do job seekers insist on complaining about or fighting things they’ve no control over?

The most successful people I know tend to go with the flow. This observation illustrates the power of adaptability and acceptance. A person who masters ‘going with the flow’ is better equipped to handle life’s ebbs and flows with ease and calmness. They don’t get emotionally bogged down by setbacks or try to control outcomes. Instead, they approach challenges with an open mind and are willing to consider alternative approaches. They don’t waste their energy on what they can’t change—it is what it is.

When you go with the flow, your job search moves with you. When an application doesn’t lead to an interview, you don’t dwell on it; you accept that there are job seekers out there who are more qualified than you, and you move on. Adopting a “F*ck it!” mentality throughout your job search is the best thing you can do for your mental well-being. When you go with the flow, you allow things to happen, such as ‘it wasn’t meant to be,’ and unfold naturally, as they are meant to, resulting in much better results.

 

Employers own their hiring process. Job seekers aren’t in a position to change an employer’s:

  • Requirements and qualifications
  • Hiring timeline
  • Interview format and questions the hiring manager chooses to ask
  • Compensation range and benefits package
  • Decision-making process used to assess and select candidates
  • Level of communication and feedback provided, if any

Many job seekers tell me they’re frustrated and burned out by their job search. They apply to dozens of jobs a week, relentlessly network, and constantly update their LinkedIn profile and resume. When interviews and offers don’t materialize, they intensify their efforts, increasing their exhaustion and discouragement.

While counterintuitive, my response is: “What if the answer to improving your job search results is doing less, focusing less?” Focus on quality (key) applications and networking rather than trying to cover many bases—quality over quantity.

The key to a less frustrating and more successful job search is to let go of trying to control, or wishing you could, how employers hire, which is beyond your control. This acceptance can bring a sense of relief, freeing up mental and emotional bandwidth for a more productive job search.

Steps you can take to go with the flow:

 

Stop applying to every job posting you see.

It’s easy to get caught up in the angst-ridden mindset you should apply to as many jobs as possible. The truth is the spray-and-pray approach, which has become all too easy with template emailing, applying online, and using AI bots to fill out applications (e.g., LazyApply), is unlikely to be effective. Instead, apply for roles selectively. Focus on employers and jobs aligning with your skills, experience, and career goals, saving time and energy for suitable employers and jobs.

 

Let go of having the mythical “perfect” resume.

Self-proclaiming career coaches and resume writers want you to believe there’s such a thing as a “perfect” resume. While resumes still play a role in job searching, they are becoming less relevant as the digital age advances. If you need to stress over something, stress over your LinkedIn profile. Your LinkedIn profile has much more visibility and reach than your resume, which is only read by those you forward it to.

Stop agonizing over your resume and tweaking it endlessly. The perfect resume doesn’t exist. Create the best result-oriented (key) resume you can and be done with it. Your resume doesn’t have to be flawless; you only need to show what results you can produce.

 

Don’t stress about the interview process.

Interviews are anxiety-inducing, so it’s natural to want to prepare extensively. Rather than scripting your responses to “potential” questions, be present and authentic. Bringing a relaxed attitude to your interviews and being ready to have an open conversation is a competitive advantage. This’ll make the interview less stressful on both sides of the desk, and your interviewer will feel more connected to you.

 

Embrace the unexpected.

Inevitably, your job search will have unpredictable twists and turns. You may get called in for an interview for a role you didn’t even apply for, or an old connection reaches out with a potential opportunity. Take advantage of these serendipitous opportunities. You never know where an unexpected opportunity might lead.

 

Trust the process.

Finding the right job and employer takes time. I firmly believe that when you stay patient and keep taking the right actions—networking, actively participating on LinkedIn, applying for relevant roles, researching companies you’d like to work for, and mentally preparing for interviews—you’ll eventually find the right opportunity. When you let go of the need to control your job search’s timeline, you’ll be less stressed and more productive.

The key is to shift away from trying to micromanage every aspect of your job search and instead embrace a more flexible, adaptable mindset. Rightfully, employers will do what they think is in their best interest; there’s nothing you can do about it, which is why you may as well free up mental and emotional bandwidth and go with the flow.

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Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

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Calm returns to Wall Street as U.S. stocks stabilize following recent volatility – CBC News

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  1. Calm returns to Wall Street as U.S. stocks stabilize following recent volatility  CBC News
  2. Stock market news today: US stocks bounce back after 3-day rout  Yahoo Finance
  3. Global markets partly recover but analysts fear ‘we’re not out of woods’  The Guardian
  4. Stock Market News: Dow Rebounding After Steep Selloff  Barron’s
  5. The stockmarket rout may not be over  The Economist

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Employers Hire Candidates That Are Best for Them

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Employers are human beings; like all humans, they look out for their interests. In other words, companies structure their hiring processes to identify and select candidates who will effectively serve their company’s interests.

People with meteoric careers often envied, acknowledge, and therefore strategically work with two facts:

 

  1. The employer’s interest dictates the workplace.
  2. It’s not the candidate’s place to decide what’s in the employer’s best interest.

 

“You can get everything in life you want if you will just help enough other people get what they want.” – Zig Ziglar.

 

Most job seekers hold the opinion that employers should select candidates purely based on their skills and qualifications. For the employer, “most qualified” doesn’t necessarily equal “best.” When recruiting and selecting new employees, employers have the right and responsibility to prioritize their organizational interests.

 

Two harsh truisms:

 

  • Companies choose what’s best for them.
  • There’s no such thing as a “must-have” candidate.

 

The concept of a great candidate (Yes, a great candidate is a concept.) is highly subjective. No company has gone bankrupt because it failed to hire a supposed “great candidate.”

 

Merely labelling yourself as a great candidate or talented without demonstrating your potential to enhance the employer’s bottom line isn’t a convincing reason to hire you. Unsubstantiated opinions are worthless. For your opinion(s) of yourself to be taken seriously, it must be backed up by credible evidence.

 

During the hiring process, employers protect their interests in the following areas:

 

Prioritizing Relevant Skills and Experience:

Employers look for candidates with job-specific skills, knowledge, and experience. They want to ensure the new hire can hit the ground running and be productive immediately.

 

Assessing Cultural Fit:

Employers evaluate a candidate’s values, working style, and personality to ensure they’ll fit into the company’s culture. All hiring decisions come down to: Will this candidate fit in?

 

Considering Long-Term Potential:

Employers prefer candidates with growth potential who can take on more responsibilities in the future.

 

Avoiding Excessive Costs:

Employers strive to hire the best possible candidate while managing their labour costs. (salary, benefits, training requirements)

 

Mitigating Risks:

In order to minimize the risk of making a bad hire, employers review a candidate’s background and digital footprint, as well as speak to their references beforehand.

 

With all of the above in mind, it’s your responsibility as a job seeker to demonstrate to employers why hiring you would be in their best interest.

 

Understand the Employer’s Perspective

“Your mindset matters more than your skillset.” – Shiv Khera, Indian author and activist.

 

Many job seekers struggle with their job search because of their mindset. A person’s mindset is everything, especially when looking for work since it influences how they perceive employers and job possibilities. The savvy job searcher knows that it’s not about them; it’s about the employer. They envision the employer as a potential customer. Employers create jobs and, therefore, paychecks; consequently, they’re the customers. As Harry Gordon Selfridge, the founder of Selfridge’s department store in London, famously said, “The customer is always right.”

 

By empathizing with the employer’s perspective, it’ll become apparent that employers are making strategic investments in their human capital rather than simply filling open positions. An organization’s long-term success requires hiring people who can contribute (read: add measurable value), not those with an extensive resume that doesn’t show what measurable value-adds they can contribute to the employer.

 

Employers are responsible for building a workforce that can drive productivity, protect the company’s competitive advantages, and mitigate legal/reputation risks. Therefore, think about how you can position your candidacy as an excellent strategic investment.

 

Highlight Your Unique Value Proposition

When communicating with employers, you must go beyond simply stating your qualifications and experience. Focus on articulating a unique value proposition—your ability to meet the employer’s most pressing needs and objectives—to answer the question in the back of the employer’s mind, “Why should I hire this person? What difference will they make to the company?”

 

Do you have a proven track record of boosting productivity and efficiency? Maybe you possess niche technical skills that would give the company a competitive edge. Perhaps you have a book of clients. Most job seekers fail to demonstrate how they’ll provide a substantial return on their compensation—the employer’s investment. Don’t be like most job seekers! If you’re asking for a salary of $95,000, be ready to explain quantitatively what the employer will get in return.

 

Demonstrate Your Commitment to Their Success

Employers are not just looking for someone to fill a role; they want someone who’s passionate about contributing to the company’s success. Show them that you’re that person.

 

Ultimately, the hiring process is not a charity or a favour employers do for job seekers. It is a strategic business decision that can make or break an organization’s ability to thrive. While employers should treat all candidates with respect and fairness, they’re well within their rights to design their hiring practices in a way that serves their own best interests. Just because an employer’s hiring process doesn’t work for the job seeker doesn’t mean it doesn’t work for the employer.

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Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

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