Avon reduces sales 13% and cuts falls after acquisition by Natura
The fragrances and cosmetics company closed the first half of its fiscal year with a net benefit of 2.2 billion dollars.
Avon, doubles speed after acquisition by Natura. The company specialized in fragrances and cosmetics has closed H1 with drops up to 52.6 million dollars, compared to the 58.1 million dollars in the same period last year. These are the first results after being acquired by the Brazilian Natura.
The ebitda has positioned in the rise for the second quarter, 66.3% more. Avon’s revenue on the side dropped 13.7%, up to 2.2 billion dollars.
Last May, the Brazilian giant, Natura, bought Avon’s international business, in an operation valued in 1.8 billion dollars.
International Avon switched hands to Natura in an operation valued in 1.8 billion dollars
After the operation, Natura started controlling 76% of Avon’s capital, while 24% continues in the hands of shareholders of the American company.
At the same time, Avon closed last April the sale of its American business, to the South Korean LG Household&Health, also specialized in fragrances and cosmetics, for an operation valued in 125 million dollars.
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