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Body Shop pays $6m to cut Softbank link

The Body Shop has severed its contract with its internet partner, troubled Japanese internet investor Softbank, in a move which will bring the retailer’s website in-house.

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LONDON (Brand Republic) – The Body Shop has severed its contract with its internet partner, troubled Japanese internet investor Softbank, in a move which will bring the retailer’s website in-house.

The ethical cosmetics and toiletries retailer will pay $6m for Softbank’s 24% stake in the joint venture –- Body Shop Digital.

Softbank, which has ploughed $15m into the company, has seen its share price fall 90% since February following a collapse in profits. It will suffer a $9m shortfall from The Body Shop’s decision to pull out of the deal.

www.bodyshop.com



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