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Avon, the number one global cosmetics catalogue saw it's
shares fall 5.43%, on February the fourth in two thousand
and ten. Shares in other leading cosmetic and beauty companies
have also been hit. Alongside the global slowdown in western
countries, Venezuela has just announced that it will devalue
it's currency.
Avon's direct catalogue sales to Venezuela, and other countries
in the central and south American region has been a strong
growth sector. Direct catalogue sales in the US and UK have
been tepid, as consumers attempt to save on luxury items such
as perfume, aftershave and cosmetics.
Avon have pinned alot of investment and hope into their new
'Global Ambassador'. The lady in question is Reese Witherspoon,
a Hollywood actress famed for her role of June Carter in Walk
the Line. In 2009 she launched a new perfume in collaboration
with Avon, named in-bloom, it's a sweet fragrance which aims
to replicate her childhood in Tennessee.
Avon's business has been built upon direct selling. This
has involved the famous 'Avon Lady' who goes door to door,
delivering catalogues (catalog) and returning to collect sales
and sometimes to deliver products and accept payment. However,
due to the lucrative nature of the business, many men have
become Avon sellers. Therefore, the days of always assuming
an Avon seller was a lady are gone.
Avon's history dates back to 1886, whilst they are obviously
a commercial company which is best known for their catalogue
business. Avon have also led many social campaigns, such as
the 'Avon Breast Cancer Crusade' and the 'Avon Foundation
Speak Out Against Domestic Violence program'.
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