Beauty brand Avon to close operations in Australia and New Zealand

Cosmetics firm Avon has reportedly decided to withdraw operations from Australia and New Zealand by the end of this year.

According to media reports, the company’s closure will result in 220 job cuts in both countries. The decision will also affect 21,400 Avon representatives in Australia.

A statement from Avon was quoted by New Zealand Herald as saying: “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 company reported that its total revenue was relatively unchanged at $5.7bn for fiscal 2017.

Established in 1886 by David H. McConnell, the beauty firm’s portfolio includes haircare, skincare, makeup, bodycare, fragrance products.