Hotline: 1800 102 2007
X
Search Business Opportunities
Jan, 11 2019

Avon enters into agreement with The Face Shop to sell China manufacturing operation

Under the agreement, The Face Shop will buy all of the shares of Avon's Beauty manufacturing operation in Guangzhou, China.

Avon Products, a globally recognised leader in direct selling of beauty and related products, has entered into a definitive agreement with an arm of LG Household & Health Care Ltd 'The Face Shop', one of Asia's largest consumer goods and beauty companies. Under the agreement, The Face Shop will buy all of the shares of Avon’s Beauty manufacturing operation in Guangzhou, China.

Both the companies have also agreed to enter into a manufacturing and supply agreement. Under this agreement, the Guangzhou factory will manufacture products for Avon’s fast-growing Chinese business and other markets.

Jan Zijderveld, CEO of Avon, said, "This transaction is a significant step forward in our efforts to ‘Open Up Avon’ by operating more efficiently, with a leaner, more agile global infrastructure. This agreement provides us with greater operational and financial flexibility, while allowing us to benefit from the local knowledge, world-class products, R&D expertise and infrastructure of internationally-recognized partners such as LG H&H."

Suk Cha, CEO of LG Household & Health Care, stated, "We are pleased to have reached this agreement with Avon and add a state-of-the-art facility with powerful capabilities to deliver quality products for the fast-growth local market. Our past interactions with Avon provide us with a sound understanding of its brand power and global reach, and we look forward to continuing our relationship with Avon as we both explore ways to grow our product lines, bring desirable products to market faster, and each accelerates our growth across Asia."

Comment
image
Related opportunities
  • Fine Dine Restaurants
    About Us: Started in year 2000, Samvene–The Bagel Café (STBC) is..
    Locations looking for expansion Delhi
    Establishment year 2000
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Ice creams & Yogurt Parlors
    Gujarat's fastest emerging chain of  Fruit and Juice Bar is..
    Locations looking for expansion Gujarat
    Establishment year 2011
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Competitive Exam Coaching Institute
    About Us: Searching for a premium franchise opportunity in booming education..
    Locations looking for expansion Karnataka
    Establishment year 2009
    Franchising Launch Date 2009
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Online learning/E-learning
    About Us : We are the group of people having 10+..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities