Natura &Co, the Brazillian beauty giant that owns The Body Shop and Avon, is exploring the possibility of selling the natural beauty retailer.

The company said in a filing that it had authorised its executives to look into “strategic alternatives” for The Body Shop, including a potential sale. However, it added that there was no guarantee that any deal would be reached.

The Body Shop, which has over 250 stores in the UK and more than 2800 worldwide, is estimated to be worth around £405million, according to J.P Morgan. The filing did not reveal any details about the reasons for the sale or the interested parties. Natura &Co said it would not comment further on the matter until it had more information to share.

The filing also said that The Body Shop would continue to operate as usual and that the sale process would not affect its customers or employees. The Body Shop was founded in 1976 by Anita Roddick and became known for its ethical and environmental values. Natura &Co acquired the brand from L’Oréal in 2017 for £880million.