Millionaire 'Cosmetics King' Mike Jatania moves in to save Body Shop: Rescue bid leader is one of Britain's richest businessman with a historic mansion so grand it inspired Bond movies By Matt Strudwick Published: 11:20, 18 July 2024 | Updated: 11:21, 18 July 2024 e-mail View comments He is the British millionaire dubbed the 'Cosmetics King' who is leading a rescue bid to save The Body Shop. Tycoon Mike Jatania is on the verge of sealing a deal that will drag the beloved chain out of the depths of administration. The self-confessed lover of a 'good Bordeaux red wine' and fine dining is one of Britain's richest businessman and alongside his three brothers - Vin, Danny and George - the Jatanias are thought to be worth at least £650 million.
They amassed their fortune by buying up unglamorous brands - such as Harmony hairspray and Lipsyl lip salve - and selling them off through family business Lornamead. Mike joined Lornamead in 1985 and became chief executive in 1990, once quipping: 'The fact that I am the youngest and I run the group says a lot about my brothers and their judgment.' The family business was sold to Hong Kong rival Li & Fung in 2013 for a reported $190 million to help swell the family's bank balance further.
'Cosmetic King' Mike Jatania pictured with his glamorous wife Sonal who he met the family's former business Lornamead The power couple used to live in the palatial grounds of Denham Place before it was put on the market for a cool £75 million last year At .