trending Market Intelligence /marketintelligence/en/news-insights/trending/jvy9jy_Z4RDz8ve1_7fCPg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Avon to sell China manufacturing operations to LG Household unit

Amazon e-commerce sales soar amid COVID-19

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Avon to sell China manufacturing operations to LG Household unit

Avon Products Inc. said it plans to sell its manufacturing operations in Guangzhou, China, to cosmetics brand TheFaceShop Co. Ltd., a unit of LG Household & Health Care Ltd., for $44 million.

Both companies also reached a manufacturing and supply agreement, wherein the Guangzhou factory will manufacture products for Avon's Chinese business and other markets, as well as handle production for TheFaceShop.

According to Avon CEO Jan Zijderveld, the deal will help the company operate more efficiently "with a leaner, more agile global infrastructure."

The transaction, subject to customary local regulatory approvals, is expected to close by February.