InNature expands footprint with USD 2.5M acquisition of The Body Shop Singapore
Singapore’s beauty market strengthens InNature’s regional presence and aligns with its growth strategy.
SINGAPORE – InNature Bhd, a Malaysian-based investment holding company and a leading regional retailer of cosmetics and personal care products, has acquired The Body Shop Singapore Pte Ltd from The Body Shop International Ltd for RM10.41 million (USD 2.47 million).
This deal is expected to be completed by the end of October 2025.
This acquisition marks InNature’s expansion into the Singapore market, solidifying its Southeast Asian footprint beyond its existing 105 stores in Malaysia, Vietnam, and Cambodia.
The move into Singapore taps into the region’s high-value, digitally driven beauty market, projected to reach USD 1.29 billion in 2025, with nearly half of sales coming from digital channels.
Spokesperson from InNature said, “The expansion into the Singapore market is expected to further enhance the business relationship between both parties, at an inflexion point where The Body Shop International Ltd, under the new leadership, is seeing gradual normalisation of operations and new products in the pipeline.”
The acquisition leverages the geographic and cultural proximity between Singapore and InNature’s primary base in Malaysia, creating synergistic operational efficiencies and expanding digital reach between the two markets.
InNature has a long-standing relationship with The Body Shop International, having operated its franchise since 1984, serving customers through retail stores and digital channels across multiple Southeast Asian countries.
This strategic expansion into Singapore is anticipated to contribute to InNature’s future growth and enhance its presence in the rapidly growing beauty and personal care sector in Southeast Asia.
Prior to this acquisition, InNature has been actively expanding The Body Shop’s retail footprint with significant store networks in Malaysia (75 stores), Vietnam (39 stores), and Cambodia (2 stores).
The company also focuses on sustainability initiatives through new eco-friendly concept stores and intends to continue aggressive store openings in Southeast Asia.
Singapore’s beauty market strengthens InNature’s regional presence, aligning with its growth strategy and leveraging digital commerce and retail expansion in key Southeast Asian markets.
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