NEW YORK, May 15, 2012 /PRNewswire/ -- Avon Products,
Inc. (NYSE: AVP) responded promptly to Coty's May 9th letter by disclosing it on May 10th and indicating that its Board would
consider the contents of the letter. Subsequently on May 13th, Avon's
Board said it would respond to Coty's letter within one week after
considering it in conjunction with management and financial and
legal advisors. On May 14th, five
days after sending its letter, Coty withdrew its proposal.
Avon, the company for women, is
a leading global beauty company, with over $11 billion in annual revenue. As the
world's largest direct seller, Avon markets to women in more than 100
countries through approximately 6.4 million active independent Avon
Sales Representatives. Avon's product line includes beauty
products, as well as fashion and home products, and features such
well-recognized brand names as Avon Color, ANEW, Skin-So-Soft,
Advance Techniques, Avon Naturals, and mark. Learn
more about Avon and its products
at www.avoncompany.com.
SOURCE Avon Products, Inc.