Avon to cut jobs, exit two markets as part of cost-savings plan
NEW YORK — Avon, a direct seller of beauty products, has outlined initial steps toward its previously announced cost-savings initiative, which includes the reduction of about 1,500 global jobs.
The company also announced that it will exit the South Korea and Vietnam markets. These actions are aimed at concentrating resources on high-priority markets and activities and boosting efficiencies, and are expected to be largely completed before the end of 2013, the company stated.
The moves mark the initial steps of its annual cost-savings target of $400 million by the end of 2015.
Cost to implement these actions is expected to be in the range of $80 million to $90 million before taxes, of which approximately $50 million to $60 million is expected to be recorded in the fourth quarter of 2012. The company anticipates that these initial steps will account for approximately 20% of the total targeted savings.
"In order to turn around the business, we are focused on driving top-line growth and aggressively managing our cost base," stated Sheri McCoy, CEO of Avon. "The decisions outlined today are necessary to stabilize the company and begin the process of returning Avon to sustainable growth."
The company stated that it expects to announce additional steps toward the cost-savings goal as it progresses.
NeoStrata’s new Age Reverse HydraFirm promises to lift, firm and hydrate skin
PRINCETON, N.J. — NeoStrata, the creator of the original lunchtime glycolic acid peel, has unveiled its new Exuviance Age Reverse HydraFirm, which targets all visible signs of aging and rehydrates the skin at deep levels so skin looks and feels younger.
For skin that needs active moisture and multiple anti-aging benefits, Age Reverse HydraFirm offers a formula to deliver both. The cream is designed to target all visible signs of aging — e.g., poor texture, discoloration, loss of firmness and wrinkles — and replenishes hydration levels to transform skin.
Exuviance Age Reverse HydraFirm, priced at $72, will be available nationwide in March 2013 at Ulta Beauty, select prestige beauty retailers and online at Exuviance.com.
New Xtreme Lashes eye repair serum geared toward lash extension wearers
SPRING, Texas — Xtreme Lashes is aiming to revolutionize the way lash extension wearers manage their daily anti-aging eye care regimen with its new Total Eye Repair Serum. The oil-free serum is designed to target multiple signs of aging without interfering with the look and lifespan of lash extensions.
While Total Eye Repair Serum is ideal for lash wearers, non-lash wearers will also appreciate the improved tone and texture they experience as a result of the serum’s microlift complex, the manufacturer stated. In addition, a multi-peptide complex within the serum offers skin regenerative benefits that help to reverse the signs of aging.
“In addition, what sets our eye serum apart from others on the market is that it’s designed for use on both the eyelids and the under eye area,” stated Xtreme Lashes founder Jo Mousselli. “Other anti-aging eye care products are suitable for use only under the eye, not on the eyelid itself. As we age, the eyelid also becomes prone to sagging and drooping, so a serum that treats and protects both areas is essential for women of all ages.”
Xtreme Lashes Total Eye Repair Serum is hypoallergenic as well as dermatologist and ophthalmologist tested. It is available in select retailers and salons.