LG Household & Health Care acquires New Avon, LLC.
With all the Avon changes as of late, this newest development, the business acquisition by a Korean company really comes as no surprise. Avon changed their name to New Avon LLC and in the past year several of Avon’s ‘higher ups’ jumped ship. Betty Palm the President of Social Selling, as well as, Scott White, Chief Executive Officer, left Avon rather abruptly.
The company also completely revamped the website for Representatives, including a new logo. They even changed the name from ‘Your Avon’ to ‘Avon now’. All of this was a sure sign of something bigger in the making!
Here is the Avon Business Update email all Representatives received on April 25th, 2019:
To Our Valued Representatives,
I want to share some exciting news with you. This morning we announced that we have agreed to be acquired by LG Household & Health Care (LG H&H). The press release we issued about this news is available here.
The first thing you probably thought about when you saw LG is smartphones, TVs or washing machines. In fact, LG H&H, a subsidiary of LG, owns 38 beauty brands! They are a cosmetics leader in Korea, one of the largest and most innovative beauty markets in the world, and generated $6 billion in revenue in 2018 across cosmetics, personal care and home care.
LG H&H understands and values the power of our brand and the quality of our products.
They have expressed how much they admire and believe in our Representatives, as well as their excitement about our unique direct sales model.
Importantly, LG H&H supports our mission to celebrate women’s power to make a beautiful and positive impact in the world, as well as our commitment to innovation and our passion for beauty.
Going forward, we will continue to create opportunities for women to build success on their own terms. We have created a community of beauty lovers across North America and our commitment to providing fabulous products that make people look and feel great won’t change.
With the support of our new partner, we will continue to strengthen our position as the leading social selling beauty company in North America.
Today’s announcement is the first step toward completing the acquisition. It is very much business as usual at Avon and your relationship with us will not change.
We will keep you updated as we have more to share. In the meantime, please do not hesitate to reach out to your regular Avon point of contact if you have additional questions.
Thank you for your hard work and commitment to our iconic brand, great products and the opportunities we provide to women throughout the country.
I hope you share my enthusiasm about this exciting new chapter in Avon’s 133‑year history.
Laurie Ann Goldman – Chief Executive Officer
LG H&H is Korea’s leading consumer goods company.
The addition of Avon’s iconic brand, award-winning products, dedicated employee base and network of 250,000 sales representatives throughout North America will support LG H&H’s international growth plans.
Under LG H&H’s ownership, Avon North America will continue its strategy of product innovation, while strengthening its position as the leading social selling beauty company in the region.
Avon North America is expected to benefit from LG H&H’s world-class R&D capabilities in cosmetics, personal care, fragrance, packaging and design.
My fellow Avon Reps, what do you make of this Business Acquisition?
Will you continue to sell Avon products, recruit new people and support the company? Leave me a comment below.