Avon to pull out of Australian and New Zealand markets by year-end

Avon to pull out of Australian and New Zealand markets by year-end

Avon has announced that it will withdraw from the Australian and New Zealand markets entirely by 2018’s close, according to a report published by news.com.au.

In a statement, the company revealed that it would cease to trade in the two markets.

“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,” read the statement.

“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 decision will affect some 220 jobs and 21,400 representatives that currently work across the two markets.

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