Natura () has signed a binding agreement for the sale of International Avon for the Holding Regent, in an important movement in the focus strategy in Latin America. The completion of the business is subject to regulatory approvals and includes company operations in Europe, Africa and Asia, but not the unit of Russia.
The new step continues Natura’s divestment strategy in Avon’s operations outside Latin America. At the beginning of the week ,.
“This agreement represents the final steps of the simplification journey of our structure, which began three years ago, focusing on the growth of operations in Latin America. Avon Internacional had already been implementing a robust restructuring program and we believe this journey will be strengthened, resuming the sustainable growth of this iconic brand that transformed the global beauty market over its 139 years,” Fabio’s chairman said Fabio Barbosa.
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The Russian unit is still classified as “maintained for sale.” The company treats as highly likely to sell the asset in the next 12 months.
According to CEO João Paulo Ferreira, Avon’s operational integration with Natura in Latin America, which will be fully completed by the end of this year, has been bringing and will continue to generate important efficiency gains.
“The work that is undergoing avon brand repositioning and redefinition of its innovation portfolio gives us the confidence that this brand will resume its growth in the region and will help strengthen Natura’s leadership in Latin American markets.”
