When Aurea rescued The Body Shop from administration last summer, the question on everybody’s lips was: who is Aurea? The little-known private equity firm burst onto the scene with a dramatic 11th-hour bid for the embattled high street chain.

Now, Aurea’s co-founders – cosmetics tycoon Mike Jatania and banking veteran Paul Raphael – are opening up about the reasons behind The Body Shop takeover as well as their grander business ambition: to build a multi-billion-dollar asset manager specialising in beauty, wellness and longevity.