This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Avon And KORRES Enter Into Strategic Alliance In Latin America

Stocks in this article: AVP

NEW YORK, Feb. 10, 2014 /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) today announced that it has entered into an agreement through which KORRES has granted Avon exclusive rights to develop, manufacture and market KORRES products in Latin America. Created by Greek pharmacist George Korres, KORRES is a Greek skincare brand established for its highly efficacious natural formulations.

This long-term strategic alliance includes all major markets where Avon operates in Latin America, and provides Avon the option to purchase all of the intellectual property rights to the KORRES products in that region.

" Latin America is a growing beauty market and a major component of the Avon portfolio. I'm very pleased that through this strategic alliance, we can leverage Avon's extensive network and capabilities to bring the KORRES brand and products to more women across Latin America," said Sheri McCoy, Chief Executive Officer, Avon Products, Inc. 

" Latin America has always been of interest to us. We feel there is a unique opportunity to reach consumers who share our values and philosophy; Avon is a strategic partner that can help us start this wonderful journey," said KORRES Founder George Korres.

"We are delighted to be partnering with KORRES. It is the perfect fit to Avon's business in Latin America. KORRES is a beauty brand that is passionate about the power of natural extracts and ingredients," said Fernando Acosta, Senior Vice President and President, Latin America, 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."

Latin America is Avon's largest business unit, accounting for nearly half of the company's revenues.

Born out of Greece's 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.'

About Avon Avon, the company for women, is a leading global beauty company, with nearly $11 billion in annual revenue. As one of the world's largest direct sellers, Avon is sold through more than 6 million active independent Avon Sales Representatives. Avon 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 Avon and its products at www.avoncompany.com.

About KORRESKORRES is a Greek skincare brand established in 1996 out of the oldest homeopathy pharmacy in Athens. 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 www.korres.com.

SOURCE Avon Products, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs