Money Finance News Avon to ditch Australia, New Zealand by end of 2018

Avon to ditch Australia, New Zealand by end of 2018

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Cosmetics brand Avon is shutting down operations in Australia and New Zealand.
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More than 200 people will lose their jobs as cosmetics brand Avon pulls out of Australia and New Zealand by the end of 2018.

The move comes as the company tries to return to long-term profit.

“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,” Avon Products said in a statement on Thursday.

Avon describes itself as “the company for women”, with $10 billion in annual revenue.

It employs 220 people in its head offices in Australia and New Zealand, and has 21,400 sellers in the former.