Pioneering cosmetics firm Avon, a beauty brand that bore thousands of female entrepreneurs all over the world, is in need of a makeover. The 125-year-old company has seen its profits plummet amid competition from the likes of L'Oreal and Revlon, and now perfume giant Coty has withdrawn its $10.7 billion (£6.6 billion) offer to buy its rival, a statement that sent Avon's shares spiralling 10 percent.
Coty - the brand behind Calvin Klein fragrances and celebrity scents for Madonna and Beyonce - first called on a struggling Avon in March but said this week it was pulling its offer. “Your total lack of engagement with us leads us to believe that you remain reluctant to explore a friendly, negotiated combination on a reasonable timetable,” Coty chairman Bart Becht said in a letter to Avon. “Two months is enough.”
The famous make-up firm is more than double the size of Coty but is embroiled in difficulties including laying off corporate employees and distribution problems. Despite their current issues, the firm still boasts 6.4 million independent reps worldwide, celebrity ambassadors like Reese Witherspoon, Yasmin LeBon and Alesha Dixon, and has a strong history as a trusted female friendly brand.
Click an image below to launch the gallery of Avon over the years. What do you think of Avon? Do you use or sell their products? Let us know your favourite poster or most inspirational quote on Twitter or in the comments section below.
Words: Anna Pollitt. Pictures Rex Features