Avon has announced that it will be withdrawing from the Australian and New Zealand markets. A statement from the company said that operations will cease before the end of 2018.
The statement read: "As part of the company’s strategy to return Avon to long-term sustainable profitable growth, the focus will be on markets with the greatest potential for future growth to support its vision of becoming the world’s leading social beauty company.
“In line with this, after a thorough deliberation on our performance, the direct selling conditions in the market, and potential for growth, we have considered all options for the business and it is with much sadness that we are announcing our decision to exit the Australia and New Zealand markets.”
The cosmetics company, which was founded in New York in 1886, is famous for its direct-selling method. It has branches throughout the globe and came to Australia back in 1963.
