Avon 2014 Annual Report Download - page 3
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Dear Shareholders:
Every day, around the world, women are building better
lives for themselves and their families by selling Avon
products. This impact is both Avon’s legacy and our future.
I am committed to ensuring that this iconic beauty brand remains
a source of inspiration and empowerment for women around
the globe for decades to come. And the only way to continue to
accomplish this is to return Avon to sustainable, profitable growth.
Although Avon’s turnaround journey has taken longer and been
more complex than I had originally expected, I remain confident
that we will succeed in our mission of returning Avon to sustainable,
profitable growth, which will create long-term shareholder value.
My confidence stems from our experience over the course of 2014.
Market by market, step by step, we are rebuilding the Company’s
core. We’ve been executing with more consistency. We participate in
the growing and attractive beauty segment and have the brand and
products to compete. We have a very attractive geographic portfolio
for the long-term and teams in place that can manage effectively
through near-term macroeconomic challenges.
As anticipated, in 2014 we showed better performance in the second
half of the year and delivered improvement on both top and bottom
line. I attribute this improved performance to the work we have
done strengthening the foundation of Avon’s business. Across our
top 12 markets, we have stronger management teams, an improved
talent pipeline, and better discipline in executing against Avon’s
core processes.
Avon is a company that stands
beauty, innovation,
optimism…
and above all for women.
for