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Avon to Sell its Ownership of Avon Japan
Posted: November 9, 2010
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As part of the transaction, Avon has agreed to grant TPG Capital rights to its local Japan formulas and products and certain other formulas and products for use in Japan and, subject to certain restrictions, for use outside of Japan. Avon also has agreed to transfer to TPG Capital ownership of certain local Japan and other trademarks. In addition, for a period of time, TPG Capital will have rights to use the "Avon" name in Japan.
Avon Associates in Japan are expected to continue in their roles and the existing Avon Japan management team will continue to provide support during the transition. TPG Capital will also have all the necessary functions and services to enable the continued success of the company.