The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Cosmetics maker Avon Products, which split itself three years ago, has been considering a deal that would put the company back together, the Wall Street Journal reported Friday.
Avon's directors have discussed a sale to Brazilian rival Natura & Co, and the talks include a scenario in which Natura would buy Avon's now private North American business, in addition to the publicly traded Avon, the report said, citing a person familiar with the matter.
The talks are preliminary and may not result in a deal, the report added.
"We never comment on this kind of speculation," an Avon spokeswoman told Reuters via email. "We remain firmly focused on delivering Avon's 'Open Up' transformation strategy."
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Natura did not immediately respond to a request for comment.
London-based Avon had sold a majority stake in its underperforming North American business to private equity firm Cerberus Capital in 2015, while retaining a roughly 20 percent interest.
Shares in Avon were up 6 percent in early trading after having risen as much as 11 percent earlier on Friday.
By Jaslein Mahil; editorial: Sai Sachin Ravikumar.
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