Body Shop Malaysia operator InNature Bhd is seeking to raise RM120.6 million (US$25.5 million) in funding from an IPO.
The firm says some of the funds will be used to fund store network expansion in Vietnam and Cambodia.
The Body Shop Malaysia business accounts for about 11 per cent of the country’s personal care & cosmetics market. It operates 89 locations in Peninsular Malaysia, Sabah and Labuan, as well as 34 outlets in Vietnam and one in Cambodia.
“We will be focusing on an omnichannel strategy heavily focused on Natura’s business model of social commerce and e-commerce, which will be supported by a digital platform as well as physical stores for showrooming and raising awareness through customer experience,” the company said in a prospectus filed with Bursa Malaysia.