LONDON, Sept. 21, 2018 /PRNewswire/ -- Avon
Products, Inc. (NYSE: AVP) today will host its 2018 Investor Day
and introduce the Company's new long-term strategy to "Open Up
Avon" and return to growth.
"We are excited to share our plans to Open Up Avon as we
continue to build on the progress we have made in the last eight
months to reboot direct selling, modernize the brand, leverage
strategic breakouts and begin a cultural transformation," said
Jan Zijderveld, Avon CEO. "We have
assessed our operations, our markets and value-creating
opportunities, and are implementing a plan to make Avon more attractive to beauty entrepreneurs
and accessible to more consumers. Critical elements of the plan are
expanding recruiting and retaining more Representatives, capturing
our share in fast growth areas, opening our eco-system to more
third party providers, and ensuring we have the right team and
execution rigor. We are confident that these efforts can increase
shareholder value and position Avon to become the leading digital social
selling beauty company."
Mr. Zijderveld continued, "Avon
is grounded by our steadfast commitment to empowering women. Our
'Open Up Avon' strategy will enable us to provide more relevant
earnings, contemporary products and meet the dynamic needs of women
globally. While transformations of this nature take time, we are
already working hard and committed to executing on these new
strategic breakout priorities and building the Avon of the future."
At today's event, members of Avon's leadership team will present the core
tenets of the strategy including:
Pivoting to a New, Open Avon
- Focusing on restoring competitiveness, modernizing and
digitizing the Avon brand, and capitalizing on strategic breakout
opportunities by:
-
- Recruiting and retaining more Representatives by increasing Her
earnings and training with intent;
- Opening up access to all consumers anywhere, anytime;
- Capturing share in fast growth areas by expanding into those
categories, markets and channels; and
- Managing our product portfolio, winning in all price tiers,
expediting innovation both in-house and with outside partners.
- Leading a performance-based cultural transformation aimed
at:
-
- Identifying news ways of working by enhancing speed and
agility; and
- Injecting new capabilities within the sales organization and
our digital initiatives.
Rebooting Avon's Social
Selling Proposition
- Segmenting communication and training for Her based on her
intent and expectations;
- Providing her with products and tools that transition Her to
becoming a trusted Beauty Advisor to Her customers; and
- Injecting new sales talent in key markets.
Modernizing Avon's Brand and
Unlocking E-Commerce for the Future
- Refreshing the brand identity to capitalize on Avon's strong brand recognition and provide
relevant, on-trend innovative products; and
- Unlocking e-commerce, data and digital capabilities, as well as
an open and simplified eco-system to increase access, reduce effort
and provide tools to improve Her earnings.
Focus on Value Creation and Simplification
- Avon also intends to outline
near-term cost savings and capital investments to support the
strategy and accelerate revenue and margin growth.
Webcast
Today's investor day presentation will begin
at 9:00 a.m. EDT and will be webcast
live at www.avoninvestor.com.
About Avon Products, Inc.
Avon is the Company that for 130 years has
proudly stood for beauty, innovation, optimism and, above all, for
women. Avon products include
well-recognized and beloved brands such as ANEW, Avon Color, Avon
Care, Skin-So-Soft, and Advance Techniques sold through
approximately 6 million active independent Avon Sales
Representatives. Learn more about Avon and its products
at www.avoncompany.com.
Forward-Looking Statements
This material contains
"forward-looking statements" that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including statements relating to revenue trends, cost
savings, efforts to implement new digital and e-commerce
strategies, improved Representative engagement and service, product
launches and commercial and digital spend. Because forward-looking
statements inherently involve risks and uncertainties, actual
future results may differ materially from those expressed or
implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to, the possibility of
business disruption, competitive uncertainties, and general
economic and business conditions in Avon's markets as well as the other risks
detailed in Avon's filings with
the Securities and Exchange Commission. Avon undertakes no obligation to update any
statements in this material after it is posted to the Investor
Relations section of our website.
Contacts
INVESTORS:
Amy Greene
Vice President, Investor Relations, Avon Products, Inc.
914-935-2172
amy.greene@avon.com
MEDIA:
Chris Wermann
Group Vice President and Chief Communications Officer, Avon
Products, Inc.
+ 44(0) 7867185442
chris.wermann@avon.com
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SOURCE Avon Products, Inc.