Feb. 10, 2014
/PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) today announced that it has entered into an agreement through which KORRES has granted
exclusive rights to develop, manufacture and market KORRES products in
. Created by Greek pharmacist
, KORRES is a Greek skincare brand established for its highly efficacious natural formulations.
This long-term strategic alliance includes all major markets where
, and provides
the option to purchase all of the intellectual property rights to the KORRES products in that region.
is a growing beauty market and a major component of the
portfolio. I'm very pleased that through this strategic alliance, we can leverage
extensive network and capabilities to bring the KORRES brand and products to more women across
, Chief Executive Officer, Avon Products, Inc.
has always been of interest to us. We feel there is a unique opportunity to reach consumers who share our values and philosophy;
is a strategic partner that can help us start this wonderful journey," said KORRES Founder
"We are delighted to be partnering with KORRES. It is the perfect fit to
. KORRES is a beauty brand that is passionate about the power of natural extracts and ingredients," said
, Senior Vice President and President,
, Avon Products, Inc. "This alliance brings some fabulous, highly efficacious products that our consumers will love. We look forward to a successful relationship with KORRES."
largest business unit, accounting for nearly half of the company's revenues.
Born out of
oldest herbal pharmacy, the brainchild of a pharmacist and a chemical engineer, KORRES is a natural skincare brand with over 400 products sold in 30 countries worldwide. Its philosophy remains the same as in its pharmacy days, rooted in the use of natural and/or certified organic ingredients of the highest quality; skin- and environmentally-friendly products with clinically tested efficacy; products that are affordable for everyday use yet of interesting aesthetics that can 'inspire & make us happy.'
, the company for women, is a leading global beauty company, with nearly
in annual revenue. As one of the world's largest direct sellers,
is sold through more than 6 million active independent Avon Sales Representatives.
products are available in over 100 countries, and the product line includes color cosmetics, skincare, fragrance, fashion and home products, featuring such well-recognized brand names as Avon Color, ANEW, Skin-So-Soft, Advance Techniques, and mark. Learn more about
and its products at
KORRES is a Greek skincare brand established in 1996 out of the oldest homeopathy pharmacy in
. The first KORRES product was an aromatic herbal syrup with honey and aniseed, a recipe inspired by rakomelon, a warming spirit-with-honey concoction, which George's grandfather used to favor in his hometown on the island of Naxos. Learn more at
SOURCE Avon Products, Inc.