Cosmetics brand Avon's North American operations have been acquired by Regent, the owner of the company's international division, in a deal that will unite the brand's global operations under single ownership for the first time in ten years. The transaction, valued at a reported £4.4 million, is expected to be completed by September 1.
LG Household & Health Care, a South Korean beauty conglomerate, was the previous owner of Avon North America. Regent, a US investment firm, will now oversee Avon's business across North America, Europe, Asia, Africa, and the Middle East.
Avon, founded in New York in 1886, has historically relied on a direct-selling model. Its representatives, often referred to as ‘Avon Ladies,’ traditionally sold products through in-person catalog sales and home parties. In recent years, the company has expanded its sales channels to include social media and online marketplaces like Amazon.
Michael Reinstein, founder and chairman of Regent, stated that America, as Avon’s largest market, will be pivotal in the brand's future. He believes that bringing the business back together will provide clearer ownership, a unified strategy, and a stronger basis for growth. The reintegration aims to create a more cohesive and robust foundation for the iconic beauty brand.