Source: The Journal News 9/4/2006

Avon Putting on a Fresh Face

The Avon lady may not be knocking on your door, but she hasn't gone away.

The 120-year-old company that started out with a Mrs. Albee toting her basket of violet, rose and Lily-of-the-Valley perfumes door-to-door is striving to maintain that personal touch along with the loyalty of customers tempted to stray into the cosmetics aisles of Duane Reade and Wal-Mart.

With its reputation for quality and personalized service, Avon Products Inc. has traditionally done well in good times and bad. Many women buy the products, many are drawn to the entrepreneurial opportunity, and many are attracted to Avon's theme of empowering women. Even in the economic slump following 9/11, the company's stock far outpaced the Standard and Poor's 500 Index of stocks, nearly doubling its value by the summer of 2004. But sales have slowed.

In the midst of a difficult year that has seen profits decline and stock prices plummet, Avon is revamping itself from the inside out. The company unveiled a $500 million three-year restructuring plan in February aimed at saving at least $300 million a year by 2008.

View Avon Review

Related News

  • Avon to Pay Millions to Settle Bribery Charges
    NEW YORK, Dec. 17, 2014 -- Avon Products, Inc. today announced that the company has entered into agreements with the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) related to the previously disclosed Foreign Corrupt Practices Act (FCPA) investigations. The terms of...  Read More...
  • Avon Splits with DSA
    Citing risks of being labeled a pyramid scheme, Avon is parting ways with the trade association it helped found almost a century ago. Avon parted with a letter to other member companies expressing concern that the Direct Sellers Association bylaws and guidelines might not be sufficient to protect...  Read More...
  • Avon Appoints Pablo Munoz Sr VP and President, North America
    NEW YORK, May 20, 2013 -- Avon Products, Inc. announced today the appointment of Pablo Munoz as Senior Vice President and President, North America, effective June 24, 2013. Mr. Munoz will report to Sheri McCoy, Avon's Chief Executive Officer, and will join the company's Executive Committee. Mr....  Read More...
  • Avon Announces Layoffs
    NEW YORK, April 8, 2013 -- Avon Products, Inc. today released further details of the company's previously announced $400 million Cost Saving Initiative by 2016.The latest actions include a global headcount reduction of more than 400 associates across all regions and functions, and the restructuri...  Read More...

 

Avon News Archive

New Companies on Npros

Receive News and
Updates from Npros.com

 Send me news updates
 Send me New Companies

RSS Npros News Feed