No deal: Natura denies Avon takeover rumors

No deal: Natura denies Avon takeover rumors

Natura has issued a statement to quell rumors that the Brazilian firm is in talks to takeover ailing Avon, according to a report published by Reuters.

“Natura Cosmeticos notifies that there are no talks underway about a possible Avon acquisition,” said the owner of Aesop and The Body Shop on Monday.

And although the rumors proved to be unfounded, the market certainly liked the sound of the acquisition. Following the Wall Street Journal’s whispers, shares in Avon rose 21 percent. When contacted by Reuters, Avon was unavailable for comment.

CEO Jan Zijderveld is attempting to turn the direct sales behemoth’s fortunes around with several high profile hires and a move towards digital but so far his efforts are yet to translate into improved sales and profit.

Leave a reply

Your email address will not be published. Required fields are marked *

TOP 50 BRANDS