Avon refused to sell assets in Russia – Kommersant
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The international cosmetics company Avon, which in the spring of 2022 announced the cessation of investments in Russian business, has decided not to leave the country for now, sources told Kommersant. In April 2023, Avon began preparing to sell its business.
Natura Siberica and Arnest Group of Companies were bidding to purchase the Russian business of the Avon concern. Kommersant’s interlocutors said that the refusal to sell was due to the power of the Avon brand in Russia and the reluctance to cede a stable business at a “noticeable discount.”
The Avon concern was founded in the USA and since 2020 belongs to the Brazilian company Natura & Co. The cosmetics company entered the Russian market in 1995.
More details in the text “Kommersant” “Avon will hold the cream”.
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