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AVON'S ALLIANCE WITH KORRES: Avon Products Inc. said Monday it has entered into a strategic alliance with Korres that grants the U.S. beauty firm the exclusive right to develop and market Korres products in Latin America.
Korres is a Greek natural skincare brand created by pharmacist George Korres. The alliance includes all major markets in Latin America where Avon operates, and gives Avon the option to acquire the intellectual property rights to the Korres products in that region. Latin America is Avon's largest business unit, accounting fro nearly half of the firm's revenues, Avon said.
Sheri McCoy, chief executive officer of Avon, said, "Latin America is a growing beauty market and a major component of the Avon portfolio," noting that Avon's leveraging of its extensive network allows it to bring Korres products to more women across Latin America.