In Brief: N.Y. Eyes Triclosan Ban; Avon To Sell Coty Scents In Brazil; More
This article was originally published in The Rose Sheet
Personal-care, cosmetic and cleaning products containing triclosan would be banned from sale in N.Y. under a bill introduced Feb. 4. More news in brief.
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Heavyweight contender Coty continues to beef up, announcing deals to acquire Hypermarcas SA's Brazilian beauty business, including significant go-to-market infrastructure, and digital marketing firm Beamly. Slated to wrap up its merger with more than 40 P&G beauty brands next year, the firm also unfurls its pending leadership and organizational structure, which includes a new department, Growth and Digital.
Global campaign underscoring Avon's role in female empowerment, including paid media, social networking and a newly created website, should strengthen the company's bond with fans and sales reps while introducing the brand to a new generation of women, CEO Sheri McCoy said during the firm's second-quarter earnings call. Sales dragged again in a challenging macroeconomic climate, but income soared and the firm's North America business was profitable, reflecting effective cost-cutting measures.
Morningstar analyst Eric Lash speculates that the “drastic actions necessary to right Avon’s ship” may be more easily implemented if private equity firm TPG Capital added the direct seller to its portfolio, which already includes Avon Japan. The investment community weighs in on an unconfirmed report that Avon is exploring a potential buyout.