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The overall performance of the company for the first half of the year has been in line with management expectations, as revenue and operating profit were 4% and 6%, respectively, higher than the comparative period.
The company is taking action to address the situation and is confident it can ensure the best possible service levels to its consultants.
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A critical strategic challenge for players in the bath and body care category is the need to attract new consumers in developed markets in order to dilute growth pressures from emerging markets, and multifunctionality is the new strategic mantra.
The company saw local currency sales increase by 3%, but European sales decreased by 5% to €294.6 million (versus €309.4 million for the same time period in 2012).
Coty has formed a new, wholly owned subsidiary in South Africa in order to direct, manage and fully operate all of its South African business, as well as its business in 13 other African countries.
When developing beauty and personal care products for emerging global regions, several formulation considerations need to be part of the equation.
Net sales growth during the quarter was particularly strong in the company’s luxury and MAC brands, online and travel retail channels, and overall in emerging markets.
Avon's total revenue of $2.3 billion for the quarter decreased 7%, or 1% in constant dollars, compared to the same time period in 2012.
The new venture will help the offer a more significant presence in Bahrain, Jordan, Kuwait, Oman, Saudi Arabia, Qatar and UAE.