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Avon's global beauty focus, cost-cutting initiatives to result in $400 mil. in savings by 2000.

This article was originally published in The Rose Sheet

Executive Summary

AVON "RE-ENGINEERING" TO ACHIEVE $400 MIL. IN SAVINGS BY 2000 as the company shifts its strategic focus to its global beauty brands and engages in a number of cost-cutting initiatives, Avon Exec VP and President, Global Marketing & New Business Andrea Jung said at an investor update meeting in New York City Oct. 23. Growth in global brands has enabled Avon to "shift its product portfolio to a smaller, more profitable beauty line-up," as the firm eliminates underperforming SKUs and consolidates its regional products under global brand umbrellas, Jung stated. Since 1994, the company has reduced its cosmetics, fragrances and toiletries line-up by 15% and is "committed to reduc[ing] that line by another 30% minimally by the year 2000," the Avon exec added.
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