This article was originally published in The Rose Sheet
Divesting Discovery Toys to refocus resources on the cosmetics, toiletry and fragrance business "especially in the areas of brand-building, contemporizing direct selling and expanding consumer access," the company announced Jan. 20. Discovery Toys "is unlikely to reach sufficient size to have a meaningful impact on Avon's overall results," the firm added. Avon sold the educational games, toys and software direct-sales business to Morristown, N.J.-based McGuggan, which holds investments in the direct-selling industry. The firm acquired the unit in 1997, saying at the time it was interested in pursuing other business areas ("The Rose Sheet," Feb. 3, 1997, In Brief)
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