South Korean conglomerate CJ Group has said it is considering a bid for L’Oréal brand The Body Shop.

The retail-focused conglomerate said in a regulatory filing details of the bid, such as whether it would enter a bid or which unit might launch a potenital bid, had not been decided.

French cosmetics giant L’Oréal said in February it is “exploring all strategic options” regarding the ownership of the British ethical skincare business it acquired a decade ago and is said to want €1bn for the brand. The Body Shop was founded in 1976 by Anita Roddick in Brighton between two funeral parlours.

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