Natura, a Brazilian company that is also the owner of the cosmetic brand Avon in Europe, the United Kingdom, and Latin America, has filed for bankruptcy to pay off a debt of 1.3 billion dollars. As recently reported by The Guardian, Avon Products Inc. (API), a subsidiary of Brazilian Natura, which purchased Avon outside North America in 2020, has filed for bankruptcy.
The company stated that they are unable to pay debts that arose primarily as a result of lawsuits claiming that some of the brand’s products contain ingredients that cause cancer.
Today, Avon Croatia also commented on this for Index.hr, stating that ‘this legal process involves only an inactive holding company in the USA and that Avon’s business outside the USA is not part of the process and will not be affected.’ They added that the initiation of bankruptcy proceedings for Avon Products Inc. (API) has no impact on Avon in Croatia, nor on other markets outside the USA.
Avon is a company that has been in operation for 135 years, and its history dates back to David McConnell, a traveling book salesman from New York. In the United Kingdom, it was recognizable by the advertising slogan ‘Ding dong! Avon calling!’, as well as by door-to-door sales. Avon has five thousand directly employed staff, as well as millions of sales agents worldwide, The Guardian reports.
