5,151 $m
Avon is celebrating its 125th anniversary with the “Avon Believe World Tour,” meant to inspire and generate pride around the Avon brand and to celebrate women’s contributions to the company and the world. Throughout this milestone year, the company struggled with meeting sales targets, declining global performance, and several high-profile regulatory investigations — all of which led to a hostile takeover attempt and changes in leadership and personnel. With new CEO Sherilyn McCoy in place, Avon’s focus is on reigniting the direct-selling momentum and improving operations, while staying true to its long history of empowering women. Avon has managed to keep the direct sales model alive and relevant in today’s increasingly digital world. A heavier focus on e-commerce may not be right for the brand or its representatives, but Avon needs to engage with its real-world following digitally. Avon’s commitment to women is reflected by its involvement in various charities and its corporate mission to “do well by doing good.” As Avon undergoes restructuring, it will be interesting to see how the company finds a new balance between the business and the brand.