This campaign is coming at a time of rebirth for the company. Avon Products sold its North American division to private equity firm Cerberus Capital Management in March of this year after steady revenue declines. Struggling to attract new sales reps — its famous army of Avon ladies — New Avon is looking to refresh its brand to appeal to a younger generation. Read more at Digiday.
Read More“Dig deeper into what it might have taken for Avon's original model to succeed here, and encounter terrain that can befuddle the savviest of marketers. We have a changing U.S. beauty industry, a millennial consumer with fickle tastes, and entirely new digital platforms, such as Instagram and YouTube where an absolute neophyte can conquer a coveted consumer base in the blink of one smoky eye shadow-bedecked eye.” Read more at New York Business Journal.
Read More“The cosmetics maker Avon Products has said that it will cut about 2,500 jobs worldwide and shift its corporate headquarters to Britain as part of a three-year turnaround plan. Shares in Avon, an American company, were up nearly 4 percent to $4.55 in extended trading, after the announcement late Monday.” Read more at The New York Times.
Read More“Avon Products Inc. will split off its North American business as part of a $605 million deal with private-equity firm Cerberus Capital Management, letting the struggling cosmetics giant focus on its more promising international business. Cerberus will acquire an 80 percent interest in the North American division for $170 million, according to a statement Thursday. That business also will assume about $230 million in long-term debt from the parent company, which will contribute $100 million in cash to the new entity.” Read more at Bloomberg Business.
Read More“To many investors, however, Avon now stands for incompetence. Its share price has plunged by nearly 60% so far this year. Quarterly earnings calls, usually polite affairs, have become decidedly less so, as stock analysts press executives to explain another set of dismal results.” Read more at The Economist.
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