Accelerating the Transformation
Last year 2006, Avon celebrates its 120th year anniversary. As a global brand and world leader in lipsticks, fragrances and anti-aging skincare, Avon continues to enlarge by launching innovative, first-to-market products using Avon-patented technology. With a highly diverse global workforce Avon has today nearly 45,000 employees. The growth vision of Avon includes expanding into new geographies, bringing high-quality products and personalized service to more and more woman.
Avon till mid-1990:
The founder, David H. McConnell, lead this company, originally known as the California Perfume Company, till his dead in 1937. 1914 the company reached the milestone of 5 million units. Avon Product went public in 1946; its sales grew at annual rates of 25 percent in the 1950s and entered in international markets as the company expanded its product line. From 1960 till mid-1980's Avon was the world's largest cosmetics company with an annuals sales average of more than $3 billion. By 1980 Avon's sales began to decline as a consequent of following wrong strategies and the recession in this time. Avon tried to boost its revenues with business diversification, but the hoped-for level of performance failed.
Andrea Jung was born in Toronto, Canada, in 1958. Her Shanghai-born mother and Hong Kong-born father had met at the city's university. Both parents were ambitious. She graduated magna cum laude in 1919 with a degree in English literature. She started to work as a management trainee for Bloomingdales and achieved early success before moving to I. Magnin. In 1992 Jung was in charge of women's apparel for Naiman Marcus. Avon offered her a job in 1994 as president of U.S. product marketing, where she quickly made a name for herself. At age of 40, Jung became CEO of Avon Product, Inc., and in 2003 she was number third on Fortune's ranking of the 50 most powerful women in American business.... [continues]
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