Avon Products

Last updated

Avon Products, Inc.
Company type Subsidiary
Industry Cosmetics
Founded1886;138 years ago (1886)
Founder David H. McConnell
Headquarters London, United Kingdom
Area served
Worldwide
Key people
Angela Cretu (CEO)
Products Cosmetics
Perfume
Skin Care
Personal Care
RevenueIncrease2.svg US$9.1 billion (2020) [1]
Decrease2.svg US$235.2 million (2018)
Increase2.svg US$−107.4 million (2016)
Total assets Decrease2.svg US$3.01 billion (2018)
Total equity Increase2.svg US$−848 million (2016)
Number of employees
23,000 [2]  (2019)
Parent Natura Holding S.A. [3] [4]
Website avonworldwide.com
Footnotes /references
[5] [6] [7] [8]

Avon Products, Inc. is an Anglo-American [9] multinational company selling cosmetics, skin care, perfume, and personal care products. It is a multi-level marketing company based in London. In 2020, Avon had annual sales of $9.1 billion worldwide. [2]

Contents

It is the fourteenth-largest beauty company [10] and, with 6.4 million representatives, is the second largest multi-level marketing company in the world (after Amway). [11] The company's CEO is Angela Cretu who was appointed to the position in January 2020. [12]

In May 2019, the Brazilian multinational company Natura & Co announced its intent to acquire Avon; the deal closed in January 2020. Following the merger, existing Natura shareholders held 73% of the combined company, Natura Holding S.A., with former Avon shareholders owning 27%. [13] At merger completion, Avon became a privately held company, common stock was removed from the NYSE trading. [14]

History

Avon's founder, David H. McConnell, initially sold books as a door-to-door salesman to New York homes. In September 1886, he decided to sell perfumes rather than books. [15] He started the new business in a small office at 126 Chambers Street, Manhattan, New York. McConnell changed the company name in 1892. His business partner suggested calling it the "California Perfume Company." His business partner was living in California at the time and suggested the name because of the abundance of flowers in California. [16] [17]

Early emblems
Avon 1886 logo.png
First logo of the company (1886)
Avon cpclogo 1911.png
"California Perfume Company" logo (1911)

In May 1894, Alexander D. Henderson joined the company, became vice-president and treasurer, and helped shape its policies and assist in its growth. [18] In 1897 they built a laboratory in Suffern, New York. [16] On May 3, 1909, the California Perfume Company corporate office moved to 31 Park Place, New York. [19] On June 16, 1909, McConnell and Henderson signed an agreement of Incorporation for the California Perfume Company in the state of New Jersey. [20] On January 28, 1916, the California Perfume Company was incorporated in the state of New York. McConnell, Henderson, and William Scheele were listed as company officials. [21] In 1939, the California Perfume Company changed its name to Avon. [22]

International expansion

The Story of Perfumery and the CPC by William Scheele, published in 1924, tells the history of Avon The Story of Perfumery and the CPC.pdf
The Story of Perfumery and the CPC by William Scheele, published in 1924, tells the history of Avon

Avon sells products in over 100 countries. Brazil is the company's largest market, passing the United States in 2010. Avon entered the Chinese market in 1990. [23] Direct selling was outlawed in China in 1998, [24] which forced Avon to sell only through physical stores called Beauty Boutiques. The ban was lifted in 2001, and the company received a license for direct selling in 2006. [11]

88% of Avon's 2013 revenue (around $10 billion) came from overseas markets. [24]

Mergers and acquisitions

Avon purchased Silpada, a direct seller of silver jewelry, in 2010 for $650 million. [11] In May 2012, perfume company Coty offered $24.75 a share for Avon, which was nearly 20 percent above Avon's stock price at the time. While Fox Business Network reported that Avon delayed the process and Coty withdrew its offer, [25] earlier reports said that Avon rejected the bid, stating "At the time, the board concluded, and it still believes, that Coty's indication of interest is opportunistic and not in the best interest of Avon's shareholders." [26] [27] [28]

In March 2016, Cerberus Capital Management paid $435 million in cash for preferred stock in Avon Products. This move was the conclusion of a deal initiated in December 2015, when Avon sold 80.1 percent of its North American Business to Cerberus for $170 million. The total value of the deal was $605 million. The investment resulted in Cerberus having an almost 17 percent stake in Avon Products. [29] [30]

In January 2020, Natura & Co closed the acquisition of Avon Products, Inc. The Natura & Co [31] group also includes Natura, Aesop, and The Body Shop, and with the acquisition of Avon has created the world's fourth-largest pure-play beauty company. [32]

Recent history

Former logo between 2019 and 2020 Avon company logo.svg
Former logo between 2019 and 2020

In 2014, Avon's global sales had fallen for five straight years, and its North American revenues fell 18% that year. [33]

In 2016, Avon completed the separation of its United States, Canada, and Puerto Rico business as New Avon LLC, which also trades with the "Avon" name. As part of a three-year plan, the global Avon Products relocated its headquarters to London in the United Kingdom. [34] In August 2019, New Avon LLC, the privately held North American company that split from Avon Products, Inc. (Avon Worldwide) in 2016 entered into a definitive agreement with South Korean consumer goods giant LG Household & Health Care, Ltd., which purchased the direct-selling cosmetics business for $125 million in cash. [35]

Jan Zijderveld was appointed the company's CEO in February 2018. [7] The former CEO, Sherilyn S. McCoy, stayed on as an adviser to the Board and to Zijderveld through March 31, 2018. [7]

In January 2021, New Avon Company announced its corporate name change to The Avon Company. [36]

In 2019, the Brazilian beauty company Natura agreed to buy Avon Products for more than $2bn via a share swap, [37] creating the world's fourth-largest beauty company. [38] Under the deal's terms, Natura will hold 76% of the combined business with over $10 billion in annual revenue. [39] [40] [41]

In June 2020, a new logo of Avon was unveiled. [42]

In November 2023, Avon announced it would open stores in the United Kingdom for the first time in the company's history, augmenting its already existing network of 63 stores in Turkey. [43] However, in August 2024, Avon Products filed for Chapter 11 bankruptcy protection in an effort to settle its talc-based lawsuits. [44]

Business model and marketing

An Avon training center in the Bronx Avon lady school 1363 Jerome Av jeh.JPG
An Avon training center in the Bronx

Avon uses both door-to-door salespeople ("Avon ladies", as well as "Avon men") and brochures to advertise its products. [45] Some Avon training centers have a small retail section with skin care products, such as creams, serums, makeup, and washes. Avon recruits sales representatives who sell beauty products, jewelry, accessories, and clothing. [46]

Some of the brand-names used by the company include Avon Color (also known as Avon True Color), mark., Imari, Far Away, Sweet Honesty, Little Dress Scents, Avon Fashions, Anew, Avon True NutraEffects, Naturals, Avon Care, Feelin Fresh and Skin So Soft. [47] According to the U.S. government, Avon has 5 million to 6 million sales representatives operating in over 100 countries as of 2014. Avon and its subsidiaries have 40,000 to 50,000 employees, 6,000 of which are in the United States. [24]

Avon was an early member of the U.S. Direct Selling Association, which was founded in 1910. The company left the association in 2014, saying that the trade group was not paying enough attention to the industry as a whole. [46]

Controversies

American corruption charges

Beginning in 2008, the conduct of various employees and executives of Avon were investigated for possible violations of the law, including bribery and violations of the Foreign Corrupt Practices Act. [48]

Avon began a probe of its China division after an internal whistleblower alleged bribery in June 2008. [48] At least four executives, both in Asia and in the United States, were suspended in 2010, [48] and later fired for their roles in the activities being investigated. [49] According to The New York Times , Avon spent over $170 million on legal fees and costs related to the investigation: $59 million in 2009 and $95 million in 2010, and $22.5 million for the first quarter of 2011. [50] The final tally was about $500 million.

The Times reported that Avon would report the findings to the United States Department of Justice and the Securities and Exchange Commission (SEC) and try to negotiate the penalties that those entities may impose. [50] On February 24, 2011, Avon filed a report with the Securities and Exchange commission highlighting the investigation as a corporate risk factor that could cause investor loss. [51]

In 2014, Avon settled the bribery charges for a total of $135 million; $68 million in criminal penalties, with the remainder in interest, disgorgement, and fines from a civil case brought by the SEC. [24] [52]

Animal testing

Avon vowed in 1989 that as a company located in the United States, it would no longer participate in animal testing. [53] Avon has since claimed to be working globally to introduce safer methods of testing cosmetics that do not require animals. These methods include in vitro testing, computer simulations, and testing cosmetics on human volunteers. [53]

Although Avon does not practice animal testing of its cosmetics that are sold in the United States, certain specialty products do require extensive testing in other countries. In China, specialty products that require degrees of animal testing include but are not limited to: sunscreen products, whitening/pigmentation products, and hair dye/perm or growth products. [53] Despite laws that require animal testing in some countries, Avon chooses to distribute its products in those jurisdictions. Laws in various countries require companies to pay for animal testing through a commercial business in order to sell certain products in that country. [54] Because Avon is not globally animal-testing free, People for the Ethical Treatment of Animals (PETA) has not included Avon on their cruelty-free list. [55] [56]

In 2019, Avon ended all regulatory-required animal testing, making it the first global beauty company selling in China to stop all animal testing of ingredients and products across all its brands by developing new ways to deliver products that do not require animal testing, such as reformulating products. [57] PETA has since announced that it has added Avon Products Inc. to their list of companies "Working for Regulatory Change". [58]

Withdrawal from major markets

In October 2013, Avon announced the closure of its branch in France at the end of that month. Its French employees accused it of keeping the workers in the dark for months and not acting in line with the company's publicly stated values of being a socially responsible company that upholds values of trust, respect and integrity and a culture of "open and candid communication." [59] As of January 2014, Avon France was in receivership. [60]

This was followed by an announcement via Facebook on February 15, 2018, that Avon Australia and New Zealand would close by the end of the year. [61] This decision resulted in the loss of 220 jobs and 21,400 sales representatives. The company has attracted criticism for poor communication with its customers and employees. [62]

Avon is still active in Russia and is recruiting more people and continuing to manufacture products as of January 2024. [63]

Related Research Articles

Maybelline New York, trading as and commonly known as Maybelline, is an American multinational cosmetics, skin care, perfume, and personal care company, based in New York City. It was founded in Chicago in 1914, and has been a subsidiary of French cosmetics company L'Oréal since 1996.

<span class="mw-page-title-main">Colgate-Palmolive</span> American multinational consumer products company

The Colgate-Palmolive Company, commonly known as Colgate-Palmolive, is an American multinational consumer products company headquartered on Park Avenue in Midtown Manhattan, New York City. The company specializes in the production, distribution, and provision of household, health care, personal care, and veterinary products.

Revlon, Inc. is an American multinational company dealing in cosmetics, skin care, perfume, and personal care. The headquarters of Revlon was established in New York City on March 1, 1932, where it remains. Revlon was founded by brothers Charles and Joseph Revson, and chemist Charles Lachman. Revlon products are sold in 150 countries and the company has many global locations including Mexico City, London, Paris, Hong Kong, Indonesia, Sydney, Singapore, and Tokyo.

<span class="mw-page-title-main">The Estée Lauder Companies</span> American multinational cosmetics company

The Estée Lauder Companies Inc. is an American multinational cosmetics company, a manufacturer and marketer of makeup, skincare, perfume, and hair care products, based in Midtown Manhattan, New York City. It is the second largest cosmetics company in the world after L'Oréal. The company owns a diverse portfolio of brands, including La Mer, Jo Malone London, Clinique and Tom Ford Beauty, among many more, distributed internationally through both digital commerce and retail channels.

<span class="mw-page-title-main">François Coty</span> French perfumer and businessman (1874–1934)

François Coty was a French perfumer, businessman, newspaper publisher, politician and patron of the arts. He was the founder of the Coty perfume company, today a multinational. He is considered the founding father of the modern perfume industry.

L'Oréal S.A. is a French multinational personal care corporation registered in Paris and headquartered in Clichy, Hauts-de-Seine. It is the world's largest cosmetics company, with activities spannning skin care, sun protection, make-up, perfume, hair care and hair color.

<span class="mw-page-title-main">Andrea Jung</span> Canadian businesswoman (born 1958)

Andrea Jung is a Canadian-American executive, non-profit leader, and prominent women's-issues supporter based in New York City. In April 2014, she became president and CEO of Grameen America, a nonprofit microfinance organization founded by Nobel Peace Prize winner, Muhammad Yunus. From 1999 until 2012, she served as the first female CEO and chairman of Avon Products, Inc., a multi-level marketing company. Jung was also the first woman to serve as Chairman of the Cosmetic, Toiletry & Fragrance Association, and Chairman of the World Federation of Direct Selling Associations.

<span class="mw-page-title-main">The Body Shop</span> International cosmetics, skin care company

The Body Shop International Limited, trading as the Body Shop, is a British cosmetics, skin care, and perfume company founded in 1976 by Anita Roddick.

<span class="mw-page-title-main">Neutrogena</span> American cosmetics company

Neutrogena Corporation, trading as Neutrogena, is an American company that produces cosmetics, skin care and hair care, is owned by parent company Kenvue and is headquartered in Los Angeles, California. According to product advertising at their website, Neutrogena products are distributed in more than 70 countries.

Natura &Co Holding S.A. is a Brazilian global personal care cosmetics group headquartered in São Paulo. The Natura & Co Group currently includes Natura Cosméticos and Avon Products. The Group is present in 73 countries across all continents except Antarctica. Natura Cosméticos, the parent company, was founded in 1969 by Antônio Luiz Seabra and became a public company listed on São Paulo Stock Exchange in 2004. Currently the company is the largest Brazilian cosmetics company by revenue. In May 2019 Natura & Co announced that it had entered into definitive agreement to acquire Avon Products, Inc. The transaction was approved by Brazilian regulations authorities in the beginning of November 2019 and was completed in January 2020, making Natura & Co the 4th largest pure-play beauty company in the world.

<span class="mw-page-title-main">Shiseido</span> Japanese cosmetics producer

Shiseido Company, Limited is a Japanese multinational cosmetic company founded in Tokyo, Japan in 1872. Its product categories consist of: skin care, makeup, body care, hair care, and fragrances. The company is one of the oldest cosmetic companies in the world and celebrated its 150th anniversary in 2022. It is the largest cosmetic firm in Japan and the fifth largest cosmetic company in the world. In Japan, Shiseido is available at cosmetic counters at selected department stores and most pharmacies. The company owns numerous brands and subsidiaries worldwide, in addition to its founding label. The company is headquartered in Tokyo, and is traded on the Tokyo Stock Exchange, where it is a constituent of the Nikkei 225 and TOPIX Large70 indices.

<span class="mw-page-title-main">Coty</span> French American beauty company

Coty Inc. is an American multinational beauty company founded in 1904 by François Coty. With its subsidiaries, it develops, manufactures, markets, and distributes fragrances, cosmetics, skin care, nail care, and both professional and retail hair care products. Coty owns around 40 brands as of 2024.

<span class="mw-page-title-main">Lush (company)</span> British cosmetics company

Lush Ltd. is a British cosmetics retailer which is headquartered in Poole, Dorset, United Kingdom. It was founded in 1995 by trichologist Mark Constantine, his wife Mo Constantine and five other founders.

CoverGirl is an American cosmetics brand founded in Maryland, United States, by the Noxzema Chemical Company. It was acquired by Procter & Gamble in 1989, and later acquired by Coty, Inc. in 2016. The Noxell Company advertised this cosmetics line by allowing "cover girls", models, actresses, and singers who appear on the front cover of women's magazines, to wear its products. CoverGirl primarily provides a wide variety of consumer-grade cosmetics.

<span class="mw-page-title-main">Ulta Beauty</span> American beauty store chain

Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc. and before 2000 as Ulta3, is an American chain of cosmetic stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries both high-end and low-end cosmetics, fragrances, nail products, bath and body products, beauty tools and haircare products. Each location has a beauty salon available to the public.

<span class="mw-page-title-main">Testing cosmetics on animals</span> Form of animal testing

Cosmetic testing on animals is a type of animal testing used to test the safety and hypoallergenic properties of cosmetic products for use by humans.

e.l.f. American cosmetics brand

e.l.f. Beauty, Inc. is an American cosmetics brand based in Oakland, California. It was founded by Joseph Shamah and Scott Vincent Borba in 2004. Items include bath and skin-care products, mineral-based makeup, professional tools, eyeliners, lipstick, glosses, blushes, bronzers, brushes, and mascara, among others.

<span class="mw-page-title-main">Cosmetic industry</span> Industry that manufactures and distributes cosmetic products

The cosmetic industry describes the industry that manufactures and distributes cosmetic products. These include colour cosmetics, like foundation and mascara, skincare such as moisturisers and cleansers, haircare such as shampoos, conditioners and hair colours, and toiletries such as bubble bath and soap. The manufacturing industry is dominated by a small number of multinational corporations that originated in the early 20th century, but the distribution and sale of cosmetics is spread among a wide range of different businesses. Cosmetics must be safe when customers use them in accordance with the label's instructions or in the conventional or expected manner. One measure a producer may take to guarantee the safety of a cosmetic product is product testing. FDA occasionally does testing as part of its research program or when looking into potential safety issues with a product. Both the cosmetics business and consumers can benefit from the FDA's resources on product testing.

Kylie Cosmetics, LLC is an American cosmetics company founded by Kylie Jenner. The company began selling Kylie Lip Kits, a liquid lipstick and lip liner set, on November 30, 2015. Formerly known as Lip Kit by Kylie, the company was renamed Kylie Cosmetics in 2016.

<span class="mw-page-title-main">Younique</span> American multi-level marketing company

Younique is an American Pyramid Scheme that markets beauty products. The company was founded in 2012 by Derek Maxfield, who is CEO, and Melanie Huscroft, and is headquartered in Lehi, Utah. Between 2017 and 2019, Younique was 60% owned by Coty, Inc. In 2019, Coty sold their share of the business back to Maxfield and Huscroft.

References

  1. "Natura & Co 2020 Annual Report". Archived from the original on September 24, 2021.
  2. 1 2 "Avon Products". Fortune . Retrieved July 12, 2020.
  3. "Brazil cosmetics giant Natura buys Avon in all-shares transaction". May 23, 2019.
  4. "Natura agrees to buy Avon, creating cosmetics powerhouse". CNBC . May 23, 2019. Retrieved December 16, 2019.
  5. "Celgene, Kinder Morgan and Actavis Set to Join the S&P 100; Several Constituent Changes Announced for S&P 500, S&P MidCap 400 and S&P SmallCap 600" (Press release). March 13, 2015.
  6. "US SEC: Form 10-K Avon Products, Inc". U.S. Securities and Exchange Commission . Retrieved January 21, 2018.
  7. 1 2 3 "US SEC: Form 8-K (Feb 3, 2018)". U.S. Securities and Exchange Commission . Retrieved February 7, 2018.
  8. "US SEC:FORM 10-K AVON PRODUCTS, INC". United States Securities and Exchange Commission . December 31, 2018. Retrieved April 6, 2019.
  9. "Avon to cut 2,500 jobs, move headquarters to Britain". Daily Sabah . March 16, 2016.
  10. "Top 20 Companies in 2019 | Beauty Packaging".
  11. 1 2 3 Kowitt, Beth (April 30, 2012). "Avon: The Rise and Fall of a Beauty Icon". Fortune . 165 (6): 106–114. Archived from the original on February 22, 2014. Retrieved April 29, 2012.
  12. "Avon names new CEO". Retail Dive. Retrieved January 27, 2023.
  13. "Natura &Co and Avon join forces to create a Direct-to-Consumer global beauty leader" (PDF) (Press release). Avon Products. May 22, 2019. Archived from the original (PDF) on May 23, 2019. Retrieved May 23, 2019.
  14. Ayala, María Luisa (December 24, 2019). "Finanzas: Avon Products: The End Is Near For This Stock". América Retail (in Spanish). Retrieved January 27, 2023.
  15. "Avon updates its look, strategy". USATODAY.com . September 10, 2006. Retrieved March 29, 2016.
  16. 1 2 "Great Oak". Hagley Digital Archives . Avon Products, Inc. 1976. Retrieved June 28, 2020.
  17. Quote from an interview with David McConnell Sr., April 15, 1936. Avon Achieves, IE7, 1936.
  18. "The Outlook". Hagley Digital Archives . California Perfume Company. November 1, 1922. Retrieved June 28, 2020.
  19. "CP Historical Timeline". www.californiaperfumecompany.com. Retrieved June 28, 2020.
  20. "Agreement of Incorporation for California Perfume Company". Hagley Digital Archives . 1909. Retrieved December 17, 2012.
  21. Weekly Drug markets, New Incorporations. Google eBooks. 1916. p. Volume 2, Page 26. Retrieved February 3, 2020.
  22. Cochran, Sara L.; Coughlan, Anne T.; Crittenden, Victoria L.; Crittenden, William F.; Ferrell, Linda K.; Ferrell, O. C.; Luce, W. Alan; Peterson, Robert A. (September 14, 2021). Direct Selling: A Global and Social Business Model. Business Expert Press. ISBN   978-1-63742-114-7.
  23. "TIMELINE-Key dates in Avon's history". Reuters . 2012. Retrieved September 20, 2017.
  24. 1 2 3 4 "Avon Products settles bribery charges for $135M". Crain's New York Business. Associated Press. December 18, 2014. Retrieved December 21, 2014.
  25. McIntyre, Douglas A. "10 Brands That Will Disappear in 2013". Fox Business.
  26. Smith, Aaron (April 2, 2012). "Avon rejects $10 billion offer from Coty - Apr. 2, 2012". Money.cnn.com. Retrieved September 3, 2012.
  27. Dominic Rushe in New York (April 2, 2012). "Avon rejects $10bn takeover bid from celebrity-fragrance company Coty | World news | guardian.co.uk". Guardian. London. Retrieved September 3, 2012.
  28. Tiffany Hsu (April 2, 2012). "Avon rejects Rimmel owner Coty's $10-billion bid - Los Angeles Times". Articles.latimes.com. Retrieved April 16, 2013.
  29. Ausick, Paul (March 8, 2016). "Avon Concludes Deal With Cerberus". 24/7 Wall Street. Retrieved March 13, 2016.
  30. Becker, Nathan; Mattioli, Dana (December 17, 2015). "Cerberus Strikes Deal to Buy into Avon". The Wall Street Journal . Retrieved March 13, 2016.
  31. Natura &Co. "Natura &Co". naturaeco.com. Retrieved February 14, 2020.
  32. "Natura &Co to close acquisition of Avon". Avon Worldwide. Retrieved February 14, 2020.
  33. Wahba, Phil (April 14, 2015). "Avon's in a ding-dong battle to stay in business". Fortune . Retrieved April 15, 2015.
  34. "Avon to move headquarters to UK". BBC . March 15, 2016.
  35. "LG Household & Health Care To Acquire New Avon, LLC". The Avon Company. December 31, 2019. Archived from the original on April 19, 2021. Retrieved January 19, 2020.
  36. "New Avon Company Announces Corporate Name Change to The Avon Company". about.avon.com. Archived from the original on April 19, 2021. Retrieved August 12, 2021.
  37. "Avon Secures Shareholder Approval for Takeover by Natura". Nasdaq . November 14, 2019. Retrieved December 11, 2020.
  38. Fontanella-Khan, James; Schipani, Andres (May 22, 2019). "Brazil's Natura confirms $2bn deal to buy Avon". Financial Times . Archived from the original on December 10, 2022. Retrieved October 16, 2019.
  39. "Natura & Co acquires Avon in all-stock $2 billion deal". cosmeticsbusiness.com. Retrieved October 21, 2024.
  40. "Body Shop owner Natura to buy Avon for £1.6bn". May 22, 2019. Retrieved October 21, 2024.
  41. Min, Sarah (May 22, 2019). "Avon Products sold to Brazilian beauty retailer Natura & Co. - CBS News". www.cbsnews.com. Retrieved October 21, 2024.
  42. Avon's New Visual ID Brand Book
  43. {{Cite web|date=November 13, 2023|title=Avon to open physical shop in the UK for the first time |url=https://www.bbc.co.uk/news/business-67406434
  44. "Avon Products Files for Bankruptcy to Wrangle Talc Lawsuits". Business of Fashion. August 13, 2024. Retrieved August 13, 2024.
  45. Klepacki, Laura (2005). Avon: Building the World's Premier Company for Women. John Wiley and Sons. ISBN   0-471-71026-1 . Retrieved April 4, 2013.
  46. 1 2 Ehrenfreund, Max (September 16, 2014). "Avon splits with trade group, citing risk of pyramid schemes". The Washington Post . Retrieved December 21, 2014.
  47. LLC, New Avon. "AVON - Shop Cosmetics, Fashion & Accessories". AVON. Retrieved March 19, 2019.
  48. 1 2 3 Wohl, Jessica (April 13, 2010). "UPDATE 2-Avon suspends four execs in China bribery probe". Reuters . Retrieved June 29, 2020.
  49. "Avon Says It Probes Possible Corruption After Firing Four". Bloomberg News . Retrieved June 29, 2020.
  50. 1 2 "The High Price of Internal Inquiries". N.Y. Times. May 6, 2011. Retrieved June 29, 2020.
  51. "Avon 10-K report". Sec.gov. Retrieved September 3, 2012.
  52. Berfield, Susan (May 1, 2014). "Avon's Ugly China Bribery Probe Ends With a $135 Million Settlement". Bloomberg Business Week. Archived from the original on May 3, 2014. Retrieved December 21, 2014.
  53. 1 2 3 "Avon Products, Inc. & Consumer Safety: Commitment to Science...Respect for Animal Welfare". www.avoncompany.com. Retrieved March 16, 2017.
  54. "Urge Avon to Stop Paying for Cruel Tests on Animals in China". PETA. Retrieved March 16, 2017.
  55. "Avon, Mary Kay, Estée Lauder (and Subsidiary MAC Cosmetics), and Revlon Are Paying for Tests on Animals". PETA. Retrieved March 16, 2017.
  56. "Search for Cruelty-Free Companies, Products, and More". PETA. June 9, 2010. Retrieved March 16, 2017.
  57. "Animal Welfare position | Avon". Avon Worldwide. Retrieved February 14, 2020.
  58. "PETA Recognizes Avon's Commitment to "Working for Regulatory Change"". Avon Worldwide. Retrieved February 14, 2020.
  59. "Avon to close its French operations". BBC . October 14, 2013. Retrieved October 14, 2013.
  60. Weil, Jennifer (January 28, 2014). "Avon France Said Seeking Receivership". Women's Wear Daily . Retrieved January 29, 2014.
  61. "Media Statement - 15 February 2018" (PDF). Avon. February 15, 2018. Archived from the original (PDF) on May 8, 2018. Retrieved February 15, 2018.
  62. Noyes, Jenny (February 16, 2018). "End of an era: 220 to lose jobs as Avon plans to quit Australia and NZ". The Age .
  63. "Beauty giant Avon under fire over Russia links". January 28, 2024. Retrieved January 30, 2024.