Avon News

Avon Moving to UK and Eliminating 2500 Positions

Press Release | 3/17/2016

"Today, we are taking another important step forward in the execution of Avon's transformation plan. With the recent completion of the sale of the North American business, our commercial operations are now fully outside of the United States, allowing us to dramatically rethink our operating model," said Sheri McCoy, Chief Executive Officer. "The actions we are taking today will bring our corporate and commercial businesses closer together, which will drive efficiencies, improve operational effectiveness and deliver significant cost savings."

Avon is implementing significant changes in its operating model, including:

Revising Avon's commercial business to ensure that all markets have consistent roles, responsibilities and processes. This will drive significant cost efficiencies and improved effectiveness.

Further streamlining of Avon's corporate functions to align with the current and future needs of the business. The Company will reduce corporate infrastructure and will transition, over time, the location of Avon's corporate headquarters to the United Kingdom, where the Company has significant commercial operations. To realize benefits of scale, core enterprise functions will be located in the United Kingdom with direct connection to the operations throughout the world.

As a result of these operating model changes, Avon will reduce its headcount by approximately 2,500 positions across multiple geographies. This includes both filled and open positions.

The Company expects to record total charges associated with these actions of approximately $60 million before taxes in the first quarter of 2016. These charges are expected to be comprised primarily of employee-related costs. The Company expects to realize pre-tax savings of approximately $30 million in 2016 associated with an approximate 1,700 headcount reduction, and expects to achieve annualized pre-tax savings of approximately $65 million - $70 million beginning in 2017.

In addition, the Company expects to realize annualized pre-tax savings of approximately $20 million in 2016 related to the elimination of the open positions.

Avon will maintain its current facilities in Suffern, NY and Rye, NY. The Company will also continue to be incorporated in New York and trade on the New York Stock Exchange under the symbol AVP.

As announced previously, Avon separated its North American business into a privately-held Company in which Avon maintains a minority interest. The North American business is not impacted by any of today's actions.

Avon to Pay Millions to Settle Bribery Charges

Press Release | 12/20/2014

"We are pleased to have reached agreements with the DOJ and the SEC," said Sheri McCoy, CEO of Avon Products, Inc.

The agreements include aggregate payments of $135 million to the two U.S. government agencies, with $68 million in fines payable to the DOJ and $67 million in disgorgement and prejudgment interest payable to the SEC, in connection with charges that the company violated the books and records and internal controls provisions of the FCPA. As previously disclosed, the company has accrued $135 million for the FCPA matters. Under a deferred prosecution agreement (DPA), which received court approval today, the DOJ will defer criminal prosecution of the company for a period of three years in connection with the alleged violations of the FCPA. The company has agreed to a corporate compliance monitor, which with the approval of the government can be replaced after 18 months by the company's agreement to undertake self-monitoring and reporting obligations for an additional 18 months. If the company remains in compliance with the DPA during its term, the charges against the company will be dismissed with prejudice. In addition, as part of the agreement with the DOJ, Avon Products (China) Co. Ltd., a subsidiary of the company operating in China, pleaded guilty today to conspiring to violate the books and records provision of the FCPA and was sentenced to pay the agreed $68 million fine to the DOJ.

In the settlement papers, the DOJ recognized Avon's cooperation and "extensive remediation," and noted that Avon's efforts resulted in "important compliance and internal controls improvements."

Final resolution of the SEC matter is subject to approval by the United States District Court for the Southern District of New York. There can be no assurances regarding if and when the court will approve the SEC settlement.

Avon Splits with DSA

Npros.com | 9/17/2014

Association bylaws and guidelines might not be sufficient to protect consumers from fraud.

In it's letter, Avon also criticized the DSA's policies for being "overly focused on the issues of a few specific brands rather than industry-wide challenges".

The DSA leadership expressed disappointment in Avon's decision.

Established in 1886, and with worldwide sales of over $10 billion dollars last year, Avon is one of the oldest companies employing the direct-sales model.

Avon Appoints Pablo Munoz Sr VP and President, North America

Press Release | 5/21/2013

Mr. Munoz will oversee Avon's business in the United States, Canada and the Caribbean. In this role, Mr. Munoz will be responsible for executing the turnaround of Avon's North American business and returning it to a solid and profitable position.

"We are committed to returning our U.S. business to health, and I am pleased to welcome Pablo to the Avon team to lead that effort," said McCoy. "Pablo is an innovative thinker and a big-picture strategist with strong operating skills and a proven track record of driving growth. Pablo is stepping into this role at an important time in our company's history and Avon will be well-served by his deep experience in both consumer products and direct sales, including his passion for motivating Representatives."

Mr. Munoz has extensive experience in direct selling in both housewares and beauty. He joins Avon from Tupperware Brands Corporation, where he has worked since 1993, most recently as Group President of the Americas region. In 2011, when Mr. Munoz took on this role, he was responsible for Latin America, where he led the turnaround of that business. Tupperware Latin America became a key growth market under his leadership, with Mr. Munoz turning it from the company's smallest division into one of the largest in terms of profits and revenue. In September 2012, Tupperware North America was added to his responsibilities and he developed the turnaround plan for that business.

During his tenure at Tupperware, Mr. Munoz led beauty and home products businesses across Latin America and Asia Pacific. In addition, Mr. Munoz led a number of important initiatives, including the development of a comprehensive sales and marketing strategy and the implementation of a transformational change agenda in brand and sales force.

Prior to joining Tupperware, Mr. Munoz spent five years at Sara Lee Corporation. He served as Executive Director, Business Development, where he was responsible for developing and executing Sara Lee's market entry strategy in Latin America across multiple product platforms and geographies. He spent his early professional career at Booz Allen Hamilton Inc. and Abbott Laboratories.

Mr. Munoz holds a Master of Science degree in Management and Engineering and a Bachelor's degree in Industrial Engineering, both from Georgia Institute of Technology in Atlanta.

Avon Announces Layoffs

Press Release | 4/10/2013

The latest actions include a global headcount reduction of more than 400 associates across all regions and functions, and the restructuring or closure of certain smaller, underperforming markets, primarily in Europe, Middle East & Africa, including the exit of the Republic of Ireland market. These actions, like those previously announced, are aimed at boosting efficiencies and concentrating resources on high priority markets and activities. The company expects these actions to be largely completed before the end of 2013.

Avon said that total charges related to these actions are expected to be in the range of $35 to $40 million before taxes and that approximately $20 million of that total will be recorded in the first quarter of 2013.

The company expects these actions to generate approximately $45 to $50 million in annualized savings, when fully implemented, as part of its $400 million cost savings goal.

"We continue to work aggressively toward turning around the business," said Avon Chief Executive Officer Sheri McCoy. "The steps outlined today take us closer to our cost-savings goal. At the same time, we remain focused on continuing to streamline the business and driving top-line growth."

Avon to Close Two Distribution Facilities

Press Release | 1/19/2013

These facilities closures are part of the initial steps of the company’s global Cost Savings Initiative that was announced in December. The global actions are aimed at concentrating resources on high-priority activities, boosting efficiencies and reducing costs.

Avon's commitment to its U.S. business, and to Representatives and their Consumers is unwavering. These changes will allow the company to focus on those activities which can best support its Representatives, help them grow their businesses and meet the needs of their customers. The decision to close these U.S. facilities is necessary to right-size our U.S. supply chain footprint, reduce complexities and restore the health of the U.S. business.

Orders processed at the Atlanta branch will begin to transition to Avon’s Zanesville, OH facility in coming months, and that process is expected to be completed this summer. Plans for the Pasadena facility are still in development, and orders processed at that branch are expected to transition in 2014.

The decision to close the two branches was difficult, and not reached lightly. Avon’s Atlanta and Pasadena facilities have served Avon and Avon’s U.S. Representatives with distinction for many decades; however, these steps are essential in order to turn around the business by driving top-line growth and aggressively managing the cost base. These steps in the U.S., together with actions being taken globally, will help stabilize the company and begin the process of returning Avon to sustainable growth.

Avon to Cut 1500 Jobs and Exit 2 Markets

Press Release | 12/12/2012

Initial steps of the cost-savings initiative will include a targeted global headcount reduction of approximately 1,500 positions and related actions. The company also announced today that it will exit the South Korea and Vietnam markets. These actions are aimed at concentrating resources on high priority markets and activities and boosting efficiencies, and are expected to be largely completed before the end of 2013.

Cost to implement these actions is expected to be in the range of $80-90 million before taxes, of which approximately $50-60 million is expected to be recorded in the fourth quarter of 2012. The company anticipates that these initial steps will account for approximately 20% of the total targeted savings.

"In order to turn around the business, we are focused on driving top-line growth and aggressively managing our cost base," said Sheri McCoy, Chief Executive Officer, Avon Products, Inc. "The decisions outlined today are necessary to stabilize the company and begin the process of returning Avon to sustainable growth."

The company expects to communicate additional steps toward the cost-savings goal as it progresses.

Avon Announces Makeup Maven Video Contest

Press Release | 12/5/2012

NEW YORK, Dec. 5, 2012 -- Voting is now open for Avon's Makeup Mavens – the first-ever makeup video contest open exclusively to Avon Representatives nationwide. More than 600 Avon Representatives submitted how-to beauty videos for the chance to be crowned one of four Makeup Mavens who will serve as Avon Color Brand Ambassadors throughout 2013.

"Our Avon Representatives are extremely passionate and savvy about beauty," said Lily DeStefano, Vice President of Beauty Marketing for Avon North America. "We're so excited to see them share their expertise with the online community."

Beginning today through December 11, 2012, consumers can vote for their favorite how-to beauty video from 60 Avon Representative semi-finalists on Avon's new YouTube Channel, www.youtube.com/AvonMakeupMaven.

Consumer votes along with a panel of judges will determine the four regional Makeup Maven finalists. Each of the 60 semi-finalists, including the 4 finalists, will travel to New York City in February 2013 to participate in a makeup master class with Avon celebrity makeup artist Paul Innis. They will also tour Avon's $100 million Research & Development Facility in Suffern, New York and share ideas with Avon's Product Development team.

Avon Appoints Chief Marketing Officer

Press Release | 11/16/2012

Ms. Perez-Ayala will be responsible for global management of Avon's brand and marketing, including consumer insights, commercial marketing, digital marketing, and product category strategy and execution. She will also have oversight of Avon research & development, new product development and packaging, and the Liz Earle business.

"As we continue to drive Avon's turnaround, a strengthened, streamlined global marketing organization is critical for the company's success. Patricia's proven record of implementing change and driving results makes her the right person to lead Avon's worldwide marketing efforts," said McCoy. "Patricia is a global brand builder with over 20 years of experience, including business strategy, consumer marketing and operations in several of Avon's key markets. She is a great addition to Avon's leadership team and I'm thrilled to have someone with her track record as steward of our brand."

Ms. Perez-Ayala joins Avon following more than 20 years with the Procter & Gamble Company, most recently as Vice President and General Manager, Eastern Europe. In that role, she was based in Russia and managed all operations for one of P&G's top five regions, leading a team of over 1,000 employees. Ms. Perez-Ayala delivered very strong growth in both top and bottom line and turned around a declining business.

Prior to that, from 2005 to 2010, Ms. Perez-Ayala was the Vice President and General Manager of North America Feminine Care and Global Strategic Planning, Tampax. In that role, she managed innovation, sales, and manufacturing and developed key relationships with retail customers and manufacturing facilities. She delivered share growth and record profits for four of her five years. Before that, Ms. Perez-Ayala was General Manager of Latin America Feminine Care, where she led product innovation, sales marketing and business operations in Mexico, Brazil, Venezuela, Chile, Argentina and Peru and delivered sales and share growth each year.

In her early career, Ms. Perez-Ayala held a series of brand, marketing and strategy positions. She began her career in 1983 with Procter & Gamble Venezuela.

Avon Reports Disappointing Third Quarter Results

Press Release | 11/2/2012

Third-Quarter 2012 (compared with third-quarter 2011) For the third quarter, total revenue of $2.6 billion decreased 8%, or increased 1% in constant dollars. Total units grew 1% and price/mix was flat during the quarter. Active Representatives were down 1%.

Avon Beauty sales declined 9%, or flat in constant dollars. On a reported basis, fragrance was down 7%, color and skincare both declined 11%, and personal care was down 9%. On a constant-dollar basis, fragrance increased 2% while color and skincare declined 1% and 3%, respectively. Personal care was flat.

Third-quarter 2012 gross margin was 61.2%, 270 basis points lower than the prior-year quarter, due to the net unfavorable impact of product mix and pricing, higher supply chain costs primarily due to costs associated with obsolescence as well as the negative impact from foreign exchange.

Operating profit was $106 million in the quarter and operating margin was 4.2%. Adjusted Non-GAAP operating profit was $152 million and adjusted Non-GAAP operating margin was 5.9%, down 440 basis points from the third quarter of 2011. This was offset by an $18 million decline in advertising, down 24% to $58 million.

Third-quarter 2012's effective tax rate was 58.2%, versus 31.5% in the third quarter of 2011. On an adjusted Non-GAAP basis, the effective tax rate was 37.2%, versus 31.5% in the third-quarter 2011, due primarily to lower benefits from audit settlements and statute expirations.

Income from continuing operations in the third quarter of 2012 was $33 million, or $0.07 per diluted share. Adjusted Non-GAAP income from continuing operations was $78 million, or $0.17 per diluted share.

Net cash provided by operating activities was $220 million for the nine months ended September 30, 2012, compared with $247 million in the same period of 2011, as lower net income was partially offset by improvements in working capital, lower contributions to the U.S. pension plan, and a payment in 2011 associated with a long-term incentive compensation plan of $36 million. The overall net cash used in the nine months ended September 30, 2012 was $148 million, compared with a use of $192 million for the same period in 2011, primarily due to lower capital expenditures.

Avon's net debt (total debt less cash) for the third quarter of 2012 was $2.2 billion, up $152 million from the year-end level.

Management is focused on stabilizing the business and returning Avon to sustainable growth and has set financial goals of mid single-digit constant-dollar revenue growth and a low double-digit operating margin over the next three years. Management has the team fully aligned around actions that will accelerate top-line growth, reduce costs and improve working capital. Management is also targeting cost savings of at least $400 million by the end of the three years to be largely driven by a reduction in Selling, General and Administrative expenses (SG&A). It also expects that there will be charges associated with the achievement of these goals.

Earlier today, the company announced a reduction in its quarterly dividend from $.23 per share to $.06 per share. This is part of an overall review of the capital structure and is consistent with prior communication that the company would assess the dividend in light of current operating performance as well as Avon's peer group. This dividend reduction, in conjunction with continued efforts to improve working capital, should help provide financial flexibility.

Avon to Postpone 3Q 2012 Earnings Due To Hurricane

Press Release | 10/30/2012

Avon Executive Chairman to Step Down

Press Release | 10/5/2012

Fred Hassan, currently lead independent director, will succeed Ms. Jung next year and assume the position of non-executive Chairman on January 1. Mr. Hassan is a managing director and partner at Warburg Pincus and the former Chairman and Chief Executive Officer of Schering-Plough Corp.

"My decision reflects the successful transition to new leadership. I believe the end of the year is the appropriate time for me to shift my role from Executive Chairman to senior advisor," Ms. Jung said. "It has been a great privilege to serve the company over the past two decades, most notably the millions of Avon Representatives and thousands of Associates around the world. I look forward to supporting the Avon Board of Directors."

Ms. Jung continued, "Fred's experience and leadership on the Avon Board, and his unusual record of leading turnarounds at world-class companies over his distinguished career make him ideally suited to take on the independent Chairman role."

Mr. Hassan said, "On behalf of the Board, I want to thank Andrea for her many years of service to the company as she helped make Avon an iconic beauty leader with an unrivaled global footprint and a preeminent force for women's economic empowerment. We look forward to continue to work with Andrea in her role as a senior advisor."

Avon Partners With Paula Abdul On Exclusive Holiday Collection

Press Release | 8/23/2012

"As a multi-talented, empowered woman who has achieved so much on her own terms, Paula Abdul is a great fit for Avon," explains Avon Fashion Director Katie Lucas. "She was such a great partner in helping us design this collection - it truly embodies her approachable brand of glamour."

The Paula Abdul-curated Forever collection includes an array of chic jewelry pieces studded with radiant, faceted stones. In bold reds, elegant amethyst tones and muted neutrals, the stones are handpicked to compliment holiday looks. The collection is topped off with a star-studded cross body handbag to add just a touch of refined edge to any outfit. The collection will launch in North America mid-November 2012 and will be available exclusively through Avon Representatives.

Avon Reports Second Quarter 2012 Results

Press Release | 8/1/2012

Avon Beauty sales declined 9%, or were flat in constant dollars. On a reported basis, fragrance was down 8%, color was down 9%, and skincare and personal care both declined by 10%. On a constant-dollar basis, fragrance increased 1%, color was flat, and skincare and personal care were both down 1%.

Second-quarter 2012 gross margin was 62.8%, 160 basis points lower than the prior-year quarter, due to higher product costs impacted by inflationary pressures, as well as negative impact from foreign exchange.

Selling, general and administrative expense in the quarter increased as a percent of revenue by 460 basis points versus second-quarter 2011, or 350 basis points on an adjusted non-GAAP basis, due to lower revenues while continuing to incur overhead expenses that do not vary directly with revenue, higher professional fees and wage inflation. Negative impacts of foreign exchange and an increased investment in brochures were also factors. This was offset by a $24 million decline in advertising, down 29% to $58 million, and a $4 million decrease in Representative Value Proposition2 ("RVP").

In the quarter, the Company took further action to enhance its operating model, reduce costs, and improve efficiencies. The Company recorded costs associated with restructuring of $38 million pre-tax, up from $12 million pre-tax in the year-ago period, or $0.06 and $0.02 per diluted share, respectively.

Operating profit was $127 million in the quarter and operating margin was 4.9%. Adjusted non-GAAP operating profit was $165 million and adjusted non-GAAP operating margin was 6.4%, down 510 basis points from the second quarter of 2011.

Second-quarter 2012's effective tax rate was 30.9%, versus 28.9% in the second quarter of 2011. On an adjusted non-GAAP basis, the effective tax rate was 31.2%, versus 29.1% in the second-quarter 2011, due primarily to lower benefits from audit settlements and statute expirations.

Income from continuing operations in the second quarter of 2012 was $63 million, or $0.14 per diluted share. Adjusted non-GAAP income from continuing operations was $89 million, or $0.20 per diluted share.

Net cash provided by operating activities was $41 million for the six months ended June 30, 2012, compared with $101 million in the same period of 2011, as lower net income was partially offset by improvements in working capital, lower contributions to the U.S. pension plan, and a payment in 2011 associated with a long-term incentive compensation plan. The overall net cash generated in the six months ended June 30, 2012 was $31 million, compared with a use of $169 million for the same period in 2011, primarily due to lower debt repayments.

Avon's net debt (total debt less cash) for the second quarter of 2012 was $2.3 billion, up $194 million from the year-end level, primarily due to a new term loan in the amount of $500 million in the quarter, partially offset by commercial paper repayments.

Avon to Webcast Second Quarter 2012 Earnings Conference Call

Press Release | 7/13/2012

Those wishing to access the webcast can do so from www.avoninvestor.com. The webcast will also be archived on the website for one year.

Avon Launches Corporate Responsibility Blog

Press Release | 6/28/2012

Avon’s Calling can be accessed through the company’s online Corporate Responsibility Report [responsibility.avoncompany.com] or through the direct URL http://crblog.avoncompany.com/

New content will post every Tuesday, covering ideas, news and perspectives relevant to Avon’s three mission areas – which include empowering women, sustainability and philanthropy – as well as the wide ranging areas encompassed by the ever changing concept of Corporate Responsibility. “Late breaking news” or developments will drive more frequent posts.

The primary bloggers of Avon’s Calling are Avon’s Corporate Responsibility team, including Tod Arbogast, Vice President, Sustainability & Corporate Responsibility, and Susan Arnot Heaney, Executive Director, Corporate Responsibility. Avon will also bring fresh perspectives to the content by enlisting contributors from within various areas of Avon and from outside the company, including the philanthropic partners of programs such as Avon Hello Green Tomorrow.

“We are proud to launch Avon’s Calling as the latest outreach in our goal to be transparent and to offer a dialogue with our many stakeholders,” stated Arbogast. “Avon has a long heritage as a global change agent, tackling issues a diverse as deforestation and domestic violence, and part of our success is through sharing information and listening to others.”

The first post, penned by Heaney, is on the connection between altruism and worker productivity and commitment. As Heaney noted, “if blogs existed back in 1886, when Avon was founded, I am confident our founder, David H. McConnell, would have been an enthusiastic blogger. He stated that the company would ‘meet fully the obligations of corporate citizenship,’ and blogging is another tool to share, listen and learn as corporate citizens.”

Avon Shares Fall 10 Percent After Coty Withdraws Takeover Bid

Npros.com | 5/16/2012

Avon's shares fell to $18.60 Tuesday morning, below their level in April before Coty first went public with its unsolicited offer to buy Avon.

Avon has been experiencing falling profits and declining sales, and the news that Coty withdrew its takeover bid leaves shareholders hoping the company can make a turnaround under its new CEO, Sheri McCoy.

Avon Acquisition Proposal Withdrawn by Coty

Press Release | 5/15/2012

May 14, 2012

Board of Directors Avon Products, Inc. 1345 Avenue of the Americas New York, NY 10105

Dear Members of the Board:

Since we first reached out to Avon Products, Inc. at the beginning of March with our acquisition proposal, it has been our sincere hope that we would be able to explore together a friendly combination of our two companies that would provide premium value to Avon's stockholders and benefit its customers, representatives and associates around the world.

While we have waited patiently, Avon's Board has now had more than two months to consider whether to engage in discussions and permit us to conduct due diligence. We have not asked the Board to accept our proposed purchase price or to agree to sell the Company, but only to sit down and discuss whether there might be a common basis for pursuing a transaction that we believe would be beneficial to all parties.

Last week, we offered Avon's Board an increase in the value of our proposal, additional detail on the key areas of focus for our diligence, a willingness to sign a standstill agreement and one last opportunity to engage in discussions. We believe that we provided the Board with ample time to respond, particularly since it has already had months to consider our initial request. Yesterday, we received a two sentence email indicating, without explanation, that Avon's Board would need another week to consider our request. Since receiving your email, we have reached out to Avon's Board, management and advisors to understand why additional time is needed, but we have received no explanation. I find it remarkable that since we made our revised proposal, and despite repeated requests over the last 24 hours, no one from Avon's Board or management has been willing to speak with us, including Fred Hassan, Andrea Jung and Sheri McCoy.

This continued delay and unwillingness to engage in discussions is disappointing and certainly not a constructive way to proceed. We believe that we provided a compelling and well-financed proposal for a business facing multiple challenges. As you know, our proposal included equity commitments in excess of $5.8 billion from Joh. A. Benckiser, BDT Capital Partners and certain of its limited partners, and Berkshire Hathaway Inc. Debt financing was to be provided by JPMorgan Securities.

We received encouragement from many of your shareholders, research analysts and others in the financial community. Despite this support, your total lack of engagement with us leads us to believe that you remain reluctant to explore a friendly, negotiated combination on a reasonable timetable. Two months is enough. Consequently, as our deadline to begin discussions expired today, our proposal is withdrawn. It is time for Coty Inc. to move on and pursue other opportunities.

While we are disappointed, we wish you success in pursuing your standalone turnaround strategy.

With best regards,

Bart Becht

Avon Board Considering Coty Buyout Offer

Press Release | 5/14/2012

Coty Raises Offer to Acquire Avon

Press Release | 5/10/2012

Since we made public our non-binding proposal to acquire Avon for cash (the "proposal") more than a month ago, we have spent significant time listening to your shareholders and analyzing public information, including your most recent quarterly results. We continue to believe that our proposal would provide compelling value to Avon's shareholders relative to a difficult and uncertain multi-year turnaround on a stand-alone basis. The combination of Avon and Coty would create a global beauty company with broader innovation, branding and execution capabilities to benefit its customers, representatives and associates around the world.

We have been disappointed by the current stalemate. As you know, we contacted Avon last week in an effort to break this deadlock...

We remain keenly focused on understanding Avon's operational and financial challenges, evidenced by your disappointing first quarter results and outlook, as well as your recent credit ratings downgrades...

We are prepared to sign a confidentiality agreement with standstill provisions that would restrict us from taking further public steps in seeking to acquire Avon so long as you agree in good faith to provide us with requested information on a timely basis. Upon signing the confidentiality agreement, we anticipate we would need only several weeks to conduct expedited due diligence of Avon and finalize the terms of a possible transaction. We have attached to this letter a list of priority diligence items that we believe would enable us to form a definitive view of value beyond where we have arrived based on public information.

When we contacted you again last week, you advised us that Avon's Board of Directors was not prepared to engage in any discussions regarding any revised proposal until Avon had completed a strategic and operational internal review with its new CEO.

We and our equity sources are prepared to work until May 31, 2012 to see if we have a mutually agreeable basis for a transaction. If you are prepared to enter into discussions, we can, prior to this expiration date, determine whether there is an opportunity to provide significant and certain immediate value to Avon's shareholders.

In our final effort to move forward with discussions, we are revising our proposal to $24.75 subject to due diligence and the other conditions described below. This price represents a premium of over 36% to the original undisturbed closing price on March 6, 2012 before our initial proposal of$22.25 and also represents over $1 billion of incremental value to your shareholders, despite a materially weakened outlook for your business. Given the challenges facing your business, we believe the premium is even higher when considering your potential stock price in the absence of a possible transaction. If in our work we find considerably more positives than negatives, we would be prepared to propose a higher price; if we find more negatives than positives, it would be difficult to justify our revised proposal. If after due diligence our final proposal were to be unacceptable to you, we will simply indicate so in a mutually agreeable statement and part company as friends.

In order to end the uncertainty around this transaction for both your organization and ours, we request that you respond to our revised proposal by close of business on Monday, May 14th. If you choose not to engage with us, we will withdraw our proposal. Our intention is to submit this letter and our revised proposal to Avon's Board on a confidential basis. However, if you do not enter into discussions with us by May 14th, we will have to inform the public markets of the circumstances of our withdrawal...

We reserve the right to discontinue discussions regarding, and withdraw, our revised proposal at any time. Our revised proposal is subject to customary conditions, including, among other things, our satisfaction with the results of due diligence in our sole discretion, the negotiation of a mutually satisfactory definitive agreement, financing and the approval of the negotiated terms of a transaction by our Board of Directors.

I sincerely hope you will agree that your shareholders' interests will be best served by meeting with us to discuss our proposal.

With best regards, Bart Becht

Avon Reports First Quarter 2012 Results

Press Release | 5/1/2012

First-Quarter 2012 (compared with first-quarter 2011)

Total revenue of $2.6 billion decreased 2%, up 1% in constant dollars. Total units declined by 1% and price/mix increased 2% during the quarter. Active Representatives were down 2%.

On a category basis, Beauty sales declined 1%, up 2% in constant dollars. On a reported basis, color was flat, fragrance and skincare declined 1%, and personal care was down 2%. Constant-dollar Beauty was driven by growth in all categories; color was up 4%, fragrance increased 3%, skincare grew 2%, and personal care was up 1%.

First-quarter 2012 gross margin was 60.8%, 310 basis points lower than the prior-year quarter, primarily due to cost pressures, including commodities and higher labor costs, as well as the negative impact from both foreign exchange and product mix.

Selling, general and administrative expense in the quarter increased as a percent of revenue by 350 basis points versus first-quarter 2011, and increased 310 basis points on an adjusted non-GAAP basis largely due to investments in the Representative Value Proposition(2) ("RVP"), increased bad debt provisions in South Africa, higher employment costs, and increased investments in brochures. Avon invested an additional $29 million in RVP in the quarter, primarily in the One Simple Sales Model in the U.S. and an increased focus on Representative engagement in Brazil. This was partially offset by a $7 million decline in advertising, down 9% to $75 million.

In the quarter, we took actions to enhance our operating model, reduce costs, and improve efficiencies. We recorded costs associated with restructuring of $27 million pre-tax, up from $15 million pre-tax in the year-ago period, or $0.04 and $0.02 per diluted share, respectively. Of the $27 million in the quarter, $22 million relates to the actions as described above, with the remaining $5 million associated with the 2005 and 2009 restructuring programs.

Operating profit was $72 million in the quarter and operating margin was 2.8%. Adjusted non-GAAP operating profit was $99 million and adjusted non-GAAP operating margin was 3.8%, down 610 basis points from the first quarter of 2011.

First-quarter 2012's effective tax rate was 32.3%, in line with the first quarter of 2011. On an adjusted non-GAAP basis, the effective tax rate was 32.9% versus 32.8% in first-quarter 2011.

Income from continuing operations in the first quarter of 2012 was $28 million, or $0.06 per diluted share. Adjusted non-GAAP income from continuing operations was $46 million, or $0.10 per diluted share.

With regards to cash flow, operating activities used $33 million of cash during the first quarter compared with a use of $32 million in the first quarter of 2011, as lower net income was offset by improvements in working capital, including inventory and lower pension contributions. The overall net cash used in the first quarter was $30 million, compared with a use of $165 million in first-quarter 2011, primarily due to lower debt repayments and $44 million related to the termination of two of our interest rate swap agreements.

Avon's net debt (total debt less cash) for the first quarter of 2012 was $2.2 billion, up $104 million from the year-end level.

Avon Investors File Lawsuit

Press Release | 4/16/2012

San Diego, CA -- 04/16/2012 -- At least three investors filed lawsuits against directors of Avon Products, Inc. over their alleged failure to properly consider the takeover offer by Coty.

On April 2, 2012, Coty Inc. announced that it has submitted a non-binding proposal to acquire Avon Products, Inc. for $23.25 per share in cash. Shortly after the announcement was made public the board of directors of Avon Products, Inc. rejected the offer.

The plaintiffs allege the actions by the directors were unreasonable and motivated purely by their own selfish interest in preserving their position on the Board of directors. The plaintiffs say that despite Avon Products’ “prolonged underperformance, disastrous recent financial results, and substantial uncertainty about its future prospects and direction”, defendants rather than considering the premium being offered to shareholders or negotiating a higher bid, within an hour of receiving the bid flatly rejected the proposed transaction.

The plaintiff claims that under these circumstances, defendants have breached their fiduciary duties and deprived Avon's shareholders of substantial value in the form of an offer at a premium of almost 24% of the Company's trading average for the past 20 days, and an approximately 20% premium to its March 30, 2012 closing price.

NYSE:AVP shares jumped after the takeover announcement on April 2, 2012 to $22.97 and closed on April 13, 2012 at $23.52 per share.

Avon Appoints New CEO

Press Release | 4/9/2012

Ms. McCoy, 53, assumes leadership of Avon following an exceptional 30-year career at Johnson & Johnson, where she rose to become Vice Chairman of the company's Pharmaceutical, Consumer, Corporate Office of Science & Technology, and Information Technology divisions. In this capacity she served on J & J's Executive Committee with oversight for more than 60% of J & J's $65 billion in revenues. Her responsibilities included stewardship for a broad portfolio of world-famous consumer brands including brands such as Neutrogena, Aveeno, Lubriderm, Clean & Clear and ROC.

Fred Hassan, lead director of Avon's Board, said: "The Board conducted an extensive search among many world-class candidates across the direct selling, retail and consumer sectors, and Sheri emerged as the clear choice to take Avon into the future. Sheri has a unique combination of strategic and finely-honed operational skills, a significant turnaround track record, global experience and people leadership. Given her consistent record of outperforming against new challenges, we have great confidence that under Sheri's leadership Avon can successfully execute against our strong long-term prospects."

As previously announced, Andrea Jung, currently Avon's Chairman and CEO, will continue to serve the company as Executive Chairman once Ms. McCoy assumes the CEO position. Ms. McCoy will report to the company's Board of Directors.

"We are thrilled to have someone of Sheri's caliber assuming the leadership of Avon," Ms. Jung said. "Throughout her career at J & J, Sheri has had a demonstrated track record of successfully achieving results and driving change across highly diverse operating units with widely varying product lines, customers, distribution channels and business models. She is also known for her ability to identify and empower great talent and motivate and inspire people. I look forward to supporting Sheri as Avon's new CEO," Ms. Jung added.

Ms. McCoy said: "I am extremely honored and excited to join Avon--a great company with an iconic brand and so much clear potential. Avon has an unparalleled global direct selling sales force of over six million Representatives and an enviable geographic footprint. I look forward to working with the team to develop and execute a roadmap to achieve the next phase of growth for the company."

Avon Products Rejects Buyout Offer from Coty Inc

Npros.com | 4/2/2012

Avon's profits have shrunk in recent years, and the company has restructured and cut jobs. It has been the subject of an overseas bribery investigation since 2008 and has recently been searching for a new CEO to replace Andrea Jung. Avon said it believes it will be worth more than Coty's offer with a new CEO at the helm.

Coty said it would be willing to boost its offer if Avon could show greater value, but Avon said "Coty is attempting to obtain a 'free look' at Avon on the absence of any commitment whatsoever to close a transaction at any price."

Avon Foundation for Women Announces Domestic Violence Grants

Press Release | 3/8/2012

2012 AVON BELIEVE FUND GRANT RECIPIENTS The following domestic violence programs received 2012 Believe Fund grants:

NSW Women's Refuge Resource Centre (Australia): Women's Refuge is a network of 55 shelters for women and children escaping domestic violence and also provides resources and information for the community to improve their awareness of the issues relating to domestic violence.

The Canadian Women's Foundation (Canada): The Canadian Women's Foundation provides programs to help end violence against women by focusing on training for healthy relationships and rebuilding lives through empowerment programs and community building. Hogar de Cristo Foundation (Chile): Hogar de Cristo Foundation provides shelters for victims of violence and this year will open a new shelter with the National Service of Women and the Police.

Cerfami (Colombia): Cerfami works with the Medellin government to provide specialized services to victims of violence, including shelter and counseling.

Maria Amor Foundation (Ecuador): Maria Amor Foundation provides shelter services for victims of violence at Casa Maria Amor, and develops productive and empowering projects for survivors.

W.I.N Hellas (Greece): W.I.N HELLAS offers counseling support, specialized educational programs, shelter homes and legal counseling.

Donne In Rete Contro la Violenza (Italy): Donne In Rete Contro la Violenza is a network of 58 antiviolence centers and women's shelters that have supported thousands of women and their children escaping violence.

Sensiblu Foundation (Romania): Sensiblu Foundation is the only non-governmental organizations in Bucharest working to prevent domestic violence through public awareness campaigns.

Alliance of Women (Slovakia): Alliance of Women of Slovakia monitors and translates international laws to protect women and disseminates information about legal options for victims of violence within Slovakia.

International Women Rights Centre – La Strada (Ukraine): La Strada - Ukraine has successfully worked on the prevention of trafficking and the elimination of all forms of discrimination and violence in society since 1997.

Also in honor of International Women's Day 2012, the Avon Foundation for Women announced a new App Challenge, called Ending Violence @ Home, in partnership with the Institute of Medicine. This competition is an invitation for domestic violence experts and technology enthusiasts to combine their talents and harness the power of technology to create mobile or online apps that will help prevent violence against women and children. Four prizes totaling $25,000 will be awarded. Registration is open from March 8 through May 31.

Class Action Lawsuit Filed Against Avon and Mary Kay

Press Release | 3/3/2012

LOS ANGELES, Feb 29, 2012 -- Eagan Avenatti, LLP announced today the filing of a class action lawsuit against cosmetic companies Estee Lauder, Avon Products, and Mary Kay on behalf of American consumers deceived by the companies' false and misleading representations relating to animal testing of their products. Beltran et al. v. Estee Lauder, et al., United States District Court -- Central District of California, Case No. SA12-CV312 CJC (ANX).

The Class Action complaint alleges that Estee Lauder, Avon and Mary Kay purposely defrauded consumers by falsely claiming that their products were not tested on animals when, in reality, the companies knew full well that they had begun testing various cosmetic products on animals. The complaint further alleges that the companies deliberately misled the American public by claiming their products were "cruelty free" at the same time the companies undertook animal testing in order to sell their products in China and reap hundreds of millions of dollars in Chinese sales. The complaint seeks to certify a class of over 1,000,000 consumers and requests over $100,000,000 in punitive and compensatory damages.

On February 16, 2012, People for the Ethical Treatment of Animals (PETA) announced that Estee Lauder, Avon and Mary Kay had been removed from the organization's "cruelty free" list of companies that do not test on animals after it was discovered that the companies were performing animal testing. PETA subsequently downgraded the companies and listed them on PETA's list of companies that do conduct animal testing.

"While it may make economic sense for a company to pursue sales in China, those sales should not occur at the expense of fundamental principles," stated co-counsel for the Plaintiffs Michael Avenatti of Eagan Avenatti, LLP. "Estee Lauder, Avon and Mary Kay should have been open and honest with the American public and told the truth -- that sales and profits were more important to them than refusing to conduct animal testing."

"This case is about being open and honest with consumers," added co-counsel Filippo Marchino of The X-Law Group, P.C. "If you advertise that you are not conducting animal testing, then you shouldn't be conducting animal testing -- it's that simple."

Avon Reports Fourth Quarter and Full Year 2011 Results

Press Release | 2/15/2012

Fourth-Quarter 2011 (compared to fourth-quarter 2010)

Total revenue of $3.0 billion decreased 4% or 1% in constant dollars. Total units declined 2%, while price/mix was a benefit of 1% during the quarter. Active Representatives were down 3%.

Fourth-quarter 2011 gross margin was 61.1%, 70 basis points lower than the prior-year quarter primarily due to an inventory-related charge in Brazil and commodity cost pressures.

Selling, general and administrative expense in the quarter increased as a percent of revenue by 2% versus fourth-quarter 2010, and increased 3% on an adjusted non-GAAP basis due to higher distribution costs, bad debt expense, and investments in Representative Value Proposition ("RVP"). Avon invested an incremental $35 million in RVP in the fourth quarter of 2011 in Sales Leadership and higher incentives. This more than offset a $21 million decline in advertising, which was down 23% to $71 million.

Fourth-quarter 2011 costs associated with the company's 2005 and 2009 restructuring programs were $9 million pre-tax, down from $58 million pre-tax, or $0.01 and $0.09 per diluted share, respectively.

During the quarter, the Company took a non-cash charge of $263 million, or $0.38 per diluted share, to adjust goodwill and an intangible asset related to the acquisition of Silpada Designs, Inc. ("Silpada"). This non-cash impairment charge was largely driven by the rise in silver prices since the acquisition and the negative impact on Silpada's revenues and margins.

Operating profit was $13 million in the quarter and operating margin was 0.4%, significantly impacted by the Silpada impairment charge. Adjusted non-GAAP operating profit was down 31%, and adjusted non-GAAP operating margin was 9.4%, down 360 basis points from a year ago due to higher field and distribution costs in Brazil, higher investments in RVP in the U.S., and lower gross margin...

Income from continuing operations in the fourth quarter of 2011 was $0.3 million or zero cents per diluted share, significantly impacted by the Silpada impairment charge. Excluding the impact of restructuring costs and the impairment charge, adjusted non-GAAP income from continuing operations was $172 million, or $0.39 per diluted share.

Full-Year 2011 Results (compared to full-year 2010)

Total revenue of $11.3 billion increased 4% or up 1% in constant dollars. Acquisitions contributed 1% to revenue growth during the year. Total Beauty sales were up 5%, or 2% on a constant-dollar basis. Active Representatives declined 1% and units sold were down by 2%.

Operating profit of $855 million decreased 20% and operating margin was 7.6%, down 230 basis points. Excluding the impact of restructuring costs and the Silpada impairment charge, adjusted non-GAAP operating profit was $1.2 billion, down 6%, and adjusted non-GAAP operating margin was 10.3%, down 110 basis points from a year ago.

Full-year income from continuing operations was $526 million, or $1.20 per diluted share, compared with $595 million, or $1.36 per diluted share last year. Adjusted non-GAAP income from continuing operations was $719 million, or $1.64 per diluted share, compared with $786 million, or $1.80 per diluted share.

Cash flow from operations was $656 million in 2011, $33 million lower, primarily due to a $75 million pension contribution, a $36 million payment associated with a long-term incentive compensation plan, and higher restructuring payments during the year. Partially offsetting these items were higher cash net income from operations and higher recovery of value added taxes in Brazil. Avon's net debt (total debt less cash) at year-end 2011 was $2.1 billion, up $107 million from the prior-year period. Capital expenditures were $277 million for the year.

Avon will conduct a conference call at 9:00 A.M. today to discuss the quarter results. The dial-in number for the call is (800) 843-2086 in the U.S. or (706) 643-1815 from non-U.S. locations (conference ID number: 42704239). The call will be webcast live at www.avoninvestor.com and the call and related slides can be accessed or downloaded from that site for a period of one year.

Avon to Webcast 4th Quarter and Full Year Earnings Conference Call

Press Release | 1/13/2012

Those wishing to access the webcast and related slide presentation can do so from www.avoninvestor.com . The webcast and presentation will also be archived on the website for one year.

Avon CEO Steps Down

Press Release | 12/15/2011

"I believe the time is right to separate the Chairman and CEO roles and I look forward to continuing to serve Avon as Chairman as we address the company's growing scale and opportunities," said Ms. Jung, who has been Avon 's CEO since 1999. "Over the past twelve years we have transformed the business from a decentralized group of local operating entities to a globally-managed business in over 100 countries with global brands and a global operating model. In the process, revenues have more than doubled, and the number of Representatives has doubled as well. As we look to the future, Avon 's business model remains advantaged, with both the Beauty and Direct Selling industries growing around the world, and with our broad, geographic footprint. A new CEO will provide a fresh lens and additional operational and executive leadership."

Fred Hassan , Managing Director and Partner, Warburg Pincus LLC, and Avon 's Lead Independent Director added: "Avon 's Board of Directors fully supports Andrea and appreciates her commitment to continue to serve the company as Executive Chairman and assure a smooth and successful management transition. Separating the Chairman and CEO roles as well as strengthening overall management capabilities are important steps to help the company capture its future opportunities. The Board looks forward to continuing to work closely with Andrea and the new CEO to put the company back on a growth track."

Ms. Jung said that in her role as Executive Chairman she will work closely with the new CEO in support of the company's overall strategic direction and brand positioning. She will continue to be involved in maintaining strong relationships with Avon 's key constituencies, including her role in motivating the company's millions of Representatives, and her critical advocacy on behalf of the Avon Foundation for Women. Ms. Jung noted that the Avon Foundation has raised and awarded $860 million to causes that help improve women's lives and has become the largest corporate philanthropy focused on women's issues.

Avon Launches Fundraiser for ALS TDI

Press Release | 11/1/2011

The ALS Therapy Development Institute (ALS TDI) and the Avon Products, Inc. (Avon) announced today a fundraising campaign to fund research into effective treatments for ALS (Lou Gehrig's disease). The campaign includes the production of a new item called the "Sophia Smith Yellow Rose Necklace" being added to its catalog and with all proceeds going to support research at ALS TDI.

Sophia Smith of Victoria, Texas, started part-time with Avon in 1986 and quickly excelled as a sales Representative, becoming a senior executive and member of the Avon sales leadership team in 1992. She is a mother of three and an avid motorcyclist. In November 2010, Sophia was diagnosed with ALS. Currently, there are no effective treatments or cure for the disease.

"Sophia has always been an inspiring member of the Avon family and it was heartbreaking for all of us to learn of her ALS diagnosis. Tragically, a cure for this debilitating disease may not come in time to help Sophia, but she wants to ensure that others have a fighting chance. We are taking a stand with her and are supporting Sophia through this fundraising campaign," said Andrea Jung, chairman & CEO of Avon.

"With the help of Avon, we hope to build awareness and accelerate the pace of research to find an effective treatment for ALS patients. Sophia is an inspiration, her strength and courage is admired by those around her," said Steve Perrin, Ph.D., president, CEO and CSO of the ALS Therapy Development Institute.

Each necklace costs $9.99 and can be purchased through an Avon Representative or online by clicking "fundraising" at www.avon.com starting today. The necklaces will be available for a limited time only.

About ALS Therapy Development Institute The mission of the ALS Therapy Development Institute (ALS TDI) is to develop effective therapeutics that slow or stop amyotrophic lateral sclerosis (ALS, Lou Gehrig's disease), as soon as possible. Focused on meeting this urgent unmet medical need, ALS TDI executes a robust target discovery program, while simultaneously operating the world's largest efforts to preclinically validate potential therapeutics; including a pipeline of dozens of small molecules, protein biologics, gene therapies and cell-based constructs. The world's first nonprofit biotech, ALS TDI has developed an industrial-scale platform that allows for the development and testing of dozens of potential therapeutics each year. Built by and for patients, the Institute is the world's only nonprofit biotechnology company with more than 30 professional scientists. In addition, the Cambridge, Massachusetts based research Institute collaborates with leaders in both academia and industry to accelerate ALS therapeutic development.

Avon Investigated by SEC and Attorneys for Shareholders

Pres Release | 10/31/2011

Avon Announces New Anti-Aging Sun Care Product Line

Press Release | 2/9/2011

In vitro test shows revolutionary RepairShield™ Technology repairs 50 percent of skin cell sun damage in 24 hours* New Orleans, La., Feb. 7, 2011 /PRNewswire/ — Avon Products Inc. today officially announced a breakthrough anti-aging sun care collection — ANEW Solar Advance with RepairShield™ Technology. The research behind this revolutionary line was unveiled at the American Academy of Dermatology’s 69th annual meeting. The ANEW Solar Advance anti-aging sun care line not only provides superior protection against the sun’s damaging rays with photostable broad-spectrum UVA/UVB protection, but is also designed to repair skin cell sun damage.* Patented RepairShield Technology™ is designed to protect skin by stimulating its natural antioxidant defense system to fight free radicals and to repair by activating skin’s natural repair process.

Supporting Research The core technology was presented in two studies during the AAD annual meeting. This is a culmination of more than 10 years of research that explored innovative ways to optimize the stability and thereby to help extend the protection capabilities of Avobenzone, an established UVA absorber and the ingredient most commonly used in broad spectrum sun protection products sold in the U.S.

•In the first study titled, “Photostability of Sunscreen Combinations Containing Avobenzone Exposed to Natural and Artificial UV Light” (P1012) Avon researchers discovered that combining two cosmetic skin conditioning agents -- Galangal Extract and Polyester-8 with model sunscreen systems containing Avobenzone, improves the photostability of Avobenzone. This is important because a limitation of Avobenzone is that it can undergo molecular changes that affect its protective properties. •In the second study titled, “Mechanisms to Protect Skin Cells from UV Damage” (P3115) Avon researchers examined new ways to enhance the repair of UV-induced damage and to identify new mechanisms of protection against UV damage. Avon researchers identified a blend of phytochemicals and extracts that helped facilitate the reduction of UV-induced sun damage in skin cells by 50% in 24 hours, indicating the enhancement of the skin’s natural repair process.* Study findings on skin cells also suggest that these ingredients can help stimulate the skin’s own anti-oxidant enzymes and lower oxidative stress, thus creating an optimal environment for cell recovery. ANEW Solar Advance with RepairShield™ Technology The product line, that will be available in the U.S. in May 2011, will include:

•Sunscreen Face Lotion SPF 45: This broad-spectrum UVA/UVB protective sunscreen dramatically reduces the appearances of wrinkles, while effectively protecting the skin from harmful UVA and UVB rays. Available for $34. •Sunscreen Body Lotion SPF 30: Get skin that looks dramatically tighter and more toned, and protect skin from sun damage with this protective broad-spectrum sunscreen. Available for $34. •Sunscreen Body Mist SPF 28: This formula diminishes the look of discolorations, leaving skin looking more even-toned and firmer. The Mist is designed to provide your entire body with UVA/UVB protection against sun induced damage. Available in July 2011 for $34. The products have received the Seal of Recommendation from The Skin Cancer Foundation.

Meeting Women’s Anti-Aging and Sun Protection Needs “In my practice, I hear daily from women who want to enjoy more time outdoors, but are concerned about the sun’s effect on their skin,” said Cheryl Karcher, M.D., a noted board-certified dermatologist practicing in New York City and professional consultant for Avon. “ANEW Solar Advance is an ideal solution because it’s an anti-aging sun care product that not only provides broad-spectrum UVA/UVB protection, but is also formulated to repair skin cell sun damage.”

“ANEW has pioneered anti-aging skincare breakthroughs for close to 20 years and that expertise combined with our research in sun protection has led us to these scientific findings,” shared Anthony Gonzalez, Senior Manager, Avon Global Research and Development. “Our patented RepairShield Technology™ is a great example of how we have applied our extensive anti-aging expertise with profound understanding of sun care to deliver an effective product to help protect against and visibly reverse sun-induced damage to skin**.”

All ANEW Solar Advance products are available exclusively through Avon Representatives. To locate an Avon Representative call 1-800-FOR-AVON or visit www.avon.com.

Jacqueline Bisset Becomes Avon Spokesmodel

Press Release | 8/27/2010

“I am excited to be working with Avon on the ANEW Platinum Collection, as it specifically addresses the needs of women with my skincare concerns,” reveals ANEW Platinum spokesperson Jacqueline Bisset. “I want a skincare product that makes my skin look as young as I feel. ANEW Platinum helps recapture the definition and tone of younger skin.”

“Jacqueline embodies everything the ANEW woman aspires to be— beauty, poise and sophistication,” says Andre Baradat, Vice President, Global Skincare Marketing, Avon. “We are thrilled to have such an amazing international beauty icon as the face of our new breakthrough ANEW Platinum line.”

The ANEW Platinum Night Cream and Serum will be available beginning November 2010 in conjunction with an advertising campaign featuring Jacqueline Bisset. She will also appear in the pages of the Avon brochure for ANEW Platinum beginning in November 2010.

ANEW, the pioneering anti-aging line from Avon, delivers transformative anti-aging skincare to millions of women throughout the world. With almost 2400 jars an hour¹, the line has been helping women visibly outsmart the aging process from the brand’s inception in 1992.

Bisset is the most recent star to join Avon’s roster of celebrity partners, including Fergie, Courteney Cox, Patrick Dempsey, Salma Hayek, Reese Witherspoon and Derek Jeter. Available exclusively through Avon Representatives. To locate an Avon Representative, call 1-800-FOR-AVON, or visit www.avon.com.

Avon in the New York Times

New York Times | 1/26/2010

Today, direct sales make up 1 percent, or $29.6 billion, of consumer sales in the United States, according to Amy Robinson, a spokeswoman for the Direct Selling Association. In the cosmetics and personal care market, Avon dominates with more than 5.8 million representatives worldwide.

Even in a sluggish economy, Avon is calling. Its sales last year were estimated to be $10.4 billion, nearly double what they were in 2000.

Avon Shares Slide on Analyst Downgrades

Forbes | 2/3/2009

Shares retreated $1.30, or 6.3 percent, to $19.15 in afternoon trading. The stock has declined 14.9 percent so far this year.

Yahoo! BuzzAnalyst Andrew Sawyer of Goldman Sachs (nyse: GS - news - people ) cut his rating on the stock to "Neutral" from "Buy" and said there are limited catalysts to drive the shares higher.

Avon Calling Again in New Recruit Drive

BBC News | 4/22/2008

Now it is searching for a new generation of representatives through a series of television ads which start next week.

Avon, one of the world's largest direct sellers of cosmetics, operates in more than 100 countries.

Avon Signs Patrick Dempsey

PR Newswire | 4/1/2008

"We are thrilled to partner with Patrick Dempsey -- an incredibly accomplished actor who has achieved such broad appeal because of his genuine authenticity, charisma and style," said Andrea Jung, Chairman and Chief Executive Officer, Avon Products, Inc. "We're extremely impressed with both his on and off screen accomplishments, and have a shared commitment to giving back to communities in ways both big and small. We applaud his efforts earlier this month to open the Patrick Dempsey Center for Cancer Hope & Healing in Maine, and look forward to exploring future collaboration opportunities with our Avon Foundation."

Avon Donates 1 Million to UNIFEM Fund

Scoop.co.nz | 3/12/2008

This week Avon Products and The United Nations Development Fund for Women (UNIFEM) co-hosted The Second Global Summit for a Better Tomorrow at the United Nations in New York. The Summit took place during the week of International Women’s Day to help raise awareness about critical barriers to women’s progress. Andrea Jung, Avon’s chairman and CEO announced Avon’s new commitment of $1 million to the UN Trust Fund for Violence Against Women, the largest corporate grant ever awarded in one year to the Fund.

Avon Introduces Youth Extending Cream

India Infoline.com | 2/22/2008

Anew Retroactive+ Day and Night Range is a glossy, opaque, white colored, soft cream and is inspired by Avon’s Nobel Prize winning research. The Anew Innovation and Technology centre has pioneered new Retroactive+ Technology to help reduce the appearance of wrinkles even before they appear visible to the naked eye.

Avon Shares Rise

London Free Press | 2/6/2008

The company's shares rose more than seven per cent in trading on the New York Stock Exchange. Earnings dropped to US$128.9 million, or 30 cents a share, in the last three months of 2007 compared with $184.1 million, or 41 cents a share, a year earlier. The company said restructuring costs and charges related to simplifying its product line lowered earnings per share by 34 cents in the latest period.

Avon Branches out with Retail Stores

Sun-Sentinel.com | 10/18/2007

But unlike other customers, Burr doesn't order from a local Avon representative and then wait weeks for her products to arrive. She shops at an Avon store in the Mall at Wellington Green on Forest Hill Boulevard in Palm Beach County.

"It's more personal when you go to the store," said Burr, who lives in Greenacres. "But you pay for the convenience."

New York-based Avon Products Inc., which celebrated its 120th anniversary last year, has come a long way since its founder, David McConnell, hired the first "Avon lady" to sell his products directly to the public.

The company's 5 million independent sales representatives worldwide are still selling in people's homes and offices, but the company has added other channels to strengthen its competitive position. Customers can purchase their favorite Skin-So-Soft or Anew products via the Internet, from a mall kiosk or at a bricks-and-mortar store. Avon has 13 kiosks and stores in South Florida, including the Wellington site and a store that opened recently in Fort Lauderdale.

Avon In Midst of 3 Year Reorganization

Zanesville Times Recorder | 5/1/2007

Avon putting on a fresh face Slumping beauty products queen in midst of 3-year reorganization

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....

Click link below to read the complete article

Avon Putting on a Fresh Face

The Journal News | 9/4/2006

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.

Avon Stays on Top of MLM Rankings

Npros.com | 4/19/2006

Also in the top five, Mary Kay Cosmetics and Seasilver USA. Both companies remained in the top three for public interest metrics.

From MLMRankings.com: MLM Rankings takes a monthly snapshot of internet MLM interest by compiling a count of internet MLM searches from various sources, and providing them on this site in a simple format. Want to compare two MLM companies? Use our comparison tool and see just what percentage of the public interest a given MLM opportunity captures.