New Avon CEO Shares Vision for the Future

Avon

Sheri McCoySheri McCoy

In one of her first interviews since taking the helm at Avon, CEO Sheri McCoy spoke with Forbes about the company’s current challenges and the strategies that will guide the world’s fifth-largest beauty company forward. The last five years have seen Avon stock fall more than 50 percent, along with a decrease in net income. McCoy discusses the necessity of establishing a clear vision for the company’s future and maintaining a disciplined focus on big-picture goals.

McCoy’s disciplined approach characterizes the initial steps in Avon’s turnaround plan, namely cutting 1,500 jobs, pulling out of Vietnam and South Korea, and reducing the company’s spending to save $400 million by the end of 2015. These cost-saving measures aim at refining the core business and products to better address the external question of what is important for Avon’s representatives. The company is also implementing a strategy to invest additional resources in the company’s most dynamic markets.

In the same spirit of efficiency, McCoy is working to carry the company’s business model of social connection into the digital age. Avon will invest $200 million to update its information systems and cultivate digital and social media. With an increased online presence and contemporary direct selling model, McCoy aims to restore the over 100-year-old brand to its iconic status in the global beauty market.

Read the entire Forbes Q & A with McCoy here.

Advertisements

About Direct Selling News
Direct Selling News Magazine has been serving direct selling and network marketing executives since 2004. Each issue of Direct Selling News offers content on topics that shape the dynamics of our industry.

One Response to New Avon CEO Shares Vision for the Future

  1. Pingback: Tech-Driven Momentum in Direct Sales | Direct Selling News Blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: