In a statement, the company confirmed Avon would close its operations in Australia and New Zealand by the end of the year, leaving the company’s 220 staff and more than 21,400 representatives facing an uncertain future.
The statement read:
“As part of the company’s strategy to return Avon to long-term sustainable profitable growth, the focus will be on markets with the greatest potential for future growth to support its vision of becoming the world’s leading social beauty company.
“In line with this, after a thorough deliberation on our performance, the direct selling conditions in the market, and potential for growth, we have considered all options for the business and it is with much sadness that we are announcing our decision to exit the Australia and New Zealand markets.”
Current and former Avon reps have bombarded the Avon Facebook page with messages of disapproval.
Avon ANZ president and managing director Sharon Plant said it was a “sad day” for the company’s employees and representatives.
“As a management team our commitment and focus over the coming days, weeks and months is to support our people and the wider Avon community who are impacted by this decision,” she said.
“I would like to thank all the employees, representatives and customers
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Youngevity Announces Closing of Private Placement Offering
by Nicole Dunkley • • 0 Comments
Youngevity International, Inc., a global direct marketer of nutritional and lifestyle products and also a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, announced that its wholly owned subsidiary, CLR Roasters, has completed its previously announced $4.35 million Secured Convertible Notes (the “Notes”) and Warrants (the “Warrants”) financing for a total aggregate principal amount of $4.75 million. TriPoint Global Equities, LLC acted as sole placement agent in the transaction.
The Company has begun investing the net proceeds of the Offering in its wholly owned subsidiary, CLR Roasters, LLC, to fund the purchase of K-Cup manufacturing capabilities, and intends to execute its option to acquire a second coffee plantation that will, when acquired, double the Company’s coffee bean growing area in Matagalpa, Nicaragua, to fund capital improvements on its Nicaragua coffee plantations and processing plant and for the purchase of green coffee to continue to accelerate the growth on its newly formed green coffee division.
“We are pleased to be partnering with TriPoint Global Equities and we intend to use the proceeds from this financing transaction to aid in accelerating CLR Roasters’ growth,” said Steve Wallach CEO of Youngevity. “In the event that any of the Notes are