by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – THE completion of Natura & Co’s acquisition of Avon Products Inc has created the fourth-largest pure-play beauty company set to be an unparalleled leader in the direct-to-consumer space, bringing products to over 200 million consumers globally.
A new senior leadership team led by Roberto Marques has been appointed to drive the company’s next phase of growth.
Natura & Co, which trades on the Brasil Bolsa Balcão S.A (B3) Stock Exchange in Sao Paulo, also expects to begin trading through American depositary receipts (ADRs) on the New York Stock Exchange (NYSE) under NTCO on January 6.
Natura & Co will hold leading positions in relationship selling, on and offline, through both Avon and Natura, with over 6,3 million consultants and representatives.
The group will also have a strong position in retail with more than 3 000 stores and an expanded digital presence across all the companies.
Natura & Co will have combined annual gross revenues of over US$10 billion, more than 40,000 associates, a broad and complementary product portfolio across key categories and a global footprint in over 100 countries.
Luiz Seabra, co-founder of Natura, stated the company had recently finished celebrating its 50th anniversary.
“There could be no better way to open this next chapter in our history than to welcome Avon into our family,” Seabra said.
“We are united by a shared vision and a passion for beauty and relationships, and together, we will be an even stronger force for good, striving to build a fairer and more beautiful world.”
Marques, who became Executive Chairman of the Board of Directors of Natura & Co in 2017, will also serve as Group Chief Executive Officer.
“Alongside the experienced, diverse and international senior management team we are announcing today, I am proud and privileged to lead Natura & Co’s next steps in its journey,” Marques stated.
Marques said their aspiration was “to build not just the best beauty company in the world, but the best beauty company for the world.”
“With the addition of Avon, we have created a family of companies with unrivalled direct-to-consumer reach and a formidable platform for growth. I am looking forward to working together to drive further our triple bottom line approach and write the next chapter in our journey.”
Joao Paulo Ferreirra is assuming the role of CEO Latin America of Natura & Co.
Angela Cretu has been appointed CEO of Avon, responsible for the business outside of Latin America and for the oversight of the Avon brand globally.
David Boynto will remain CEO of The Body Shop and Michael O’Keeffe remains CEO of Aesop.
– CAJ News