The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
Avon Products last week announced the acquisition of Liz Earle Beauty Co., a U.K.-based skin care company.
Cosmetics brand Avon Product Inc. last week announced the acquisition of Liz Earle Beauty Co., a U.K.-based company that specializes in skin care products made from what it calls naturally active ingredients.
Liz Earle sells primarily through direct-to-consumer channels. In the U.S., the company sells online at us.lizearle.com.
Liz Earle Naturally Active Skincare will continue to be managed independently as a stand-alone brand under the leadership of co-founders Liz Earle and Kim Buckland and will maintain its headquarters in the U.K, Avon says. Earle and Buckland founded the company in 1995; it now has some 300 employees.
"We see this new partnership as a perfect fit for both companies,” says Avon chairman and CEO Andrea Jung. “Liz Earle`s tightly edited range of award-winning, naturally active skin care products is highly complementary to Avon`s anti-aging skin care and broader beauty portfolio."
"We are very excited to be aligning with an iconic global beauty brand like Avon," Earle says. "We believe that the Liz Earle Naturally Active Skincare philosophy and extraordinary brand loyalty we have built in the U.K., when combined with Avon`s presence in more than 100 markets around the world, offers an outstanding opportunity for global expansion for our company."
Avon is No. 30 in the Internet Retailer Top 500 Guide.