THE WHAT? Natura &Co has announced that it has closed on its acquisition of Avon Products and appointed a new senior leadership team to drive the company’s next phase of growth.
THE DETAILS Roberto Marques, Executive Chairman of the Board of Directors for Natura &Co has been named Group CEO of the expanded group. Jan Zijderveld, CEO of Avon Products will step down from his role and Angela Cretu has been named CEO of Avon in his stead while Joao Paulo Ferreira will assume the role of CEO Latin America of Natura &Co.
“The combination of Avon with Natura &Co is a transformational event and the right moment for Avon to start its next growth phase,” said Zijderveld. “I will leave Avon with a feeling of pride for what we have accomplished together with the company’s talented and passionate people and teams. With the Open Up strategy, we have made significant progress in building a more stable foundation from which Avon can grow well into the future. We have modernized the brand, sharpened the portfolio and brought on-trend, innovative products to our consumers. Most importantly, we have put our passionate representatives back at the heart of everything we do, empowering them to grow their business and reach new consumers. Natura &Co is the right home for Avon to accelerate its Open Up strategy and continue to change women’s lives, and I will be cheering from the sidelines.”
THE WHY? The landmark transaction creates the world’s fourth-largest pure-play beauty company and marks a major new step in building a purpose-driven group committed to a different way of doing business. The combination of Avon, Natura, The Body Shop and Aesop significantly amplifies the reach of a multi-channel, multi-brand group that will be an unparalleled leader in the D2C space.
As Luiz Seabra, co-founder of Natura, declared, “Natura has just finished celebrating its 50th anniversary, and there could be no better way to open this next chapter in our history than to welcome Avon into our family. We are united by a shared vision and a passion for beauty and relationships, and together, we will be an even stronger force for good, striving to build a fairer and more beautiful world.”