Avon’s 2018: what did the beauty giant get up to?
The direct-sales beauty, personal care, and wellness company has made particularly decisive efforts within Asia.
We take a look in this Editor’s Spotlight at the key moments from its 2018.
Avon announces new CEO: Jan Zijderveld
In February, the company announced the replacement for its outgoing CEO, Sheri McCoy.
Jan Zijderveld took up the role following a 30 year career at Unilever, living and working in seven countries across three continents. He most recently served as a member of the consumer goods giant’s Executive Committee and president of its European business.
"With his 30-year track record as a proven global leader, Jan has driven profitable growth in large, multi-channel, complex consumer businesses across emerging, developing and developed markets,” said Chan Galbato, Chairman of the Board of Directors of Avon.
Look back at our full report on the appointment here.
Efforts to modernize: does it need to do more?
Some efforts that Avon has made to modernize include adoption of online sales channels and the launch of an interactive e-brochure.
Through these efforts, the company is aiming to make its proposition more attractive to digitally-savvy, connected millennial consumers.
But some market analysts suggest that the latest sales figures show the international beauty giant needs to be doing more to turn its fortunes around. Read our full report on this here.
LG H&H acquires Avon Japan
South Korean cosmetics goods leader purchases 100% of Avon Japan to strengthen its Japanese business.
LG Household & Health Care (LG H&H), led by Suk Cha, its CEO, revealed in April that its affiliate, Ginza Stefany, had entered into an agreement to acquire 100% of Avon’s Japanese arm for a total of 10.5 bn yen (€79 mn). Read our full report here.
Avon Products appoints new head of APAC
Bill Rahn was appointend in July to lead the Asia-Pacific arm of Avon’s global business.
Rahn now looks after the entire APAC region in terms of both strategy and development. This position will see the executive head of Avon's business preside over five areas including China, India, Taiwan, Malaysia and the Philippines.
Read our full report on the announcement here.
Avon cuts back US operations
In September, the company announced plans to streamline operations in New York State.
Avon is closing offices and reducing staff, all in an effort to “fuel growth,” according to company executives.
Read our full report here.
K Beauty collection launch
In partnership with the Korea-based beauty platform management company Bonne, Avon has developed a K Beauty product line, announced at the end of last year.
“The K-beauty collection brings innovative formulas and authentic ingredients that we do not have anywhere else in our portfolio,” explains Louise Scott, Avon's chief scientific officer.
Read our full report here.
