Brazilian cosmetics firm Natura expects to boost revenues by investing in brand and digital capabilities after sealing a deal to merge with Avon Products and control 76% of the new company, executives said on Thursday.
The founders of Swedish beauty products company Oriflame have made an offer to buy out the shares in the company that they do not already own, valuing the company at 12.9 billion crowns (1.03 billion pounds).
To support its growth strategy, cosmetics company Avon has announced that its new mobile app ‘Avon Go’ will be available to representatives in 17 markets worldwide following a successful trial in the UK.
Brazil cosmetics company Natura intends to invest up to $5 million in new brands in beauty and wellness segments in Europe and the United States through venture capital funds, executives said on Friday.
Goran Petrovic is moving from Avon Canada to Avon Worldwide to drive the transformation plan in Eastern Europe and Russia. His relocation coincides with LG Household & Health Care’s acquisition of New Avon LLC.
The North American company that split from Avon Worldwide in 2016 has entered into a definitive agreement with the South Korean consumer goods giant, which will purchase the cosmetics business for $125 million.