This time a year ago, Avon, known for its once pioneering direct-sales beauty model, relocated its global business headquarters from the US to the UK.
While it continues to be listed on the US stock exchange and retains research facilities in New York, the bulk of its leadership team is now based in the UK.
Commentators suggest that, one year on from this major shift, the company now faces a key period of establishing its strategic direction moving forward, particularly with a new CEO tipped to be appointed this year.
Still struggling: time for strategy overhaul?
Market research provider Euromonitor International recently released a company profile on Avon, in which its analysts consider the potential key focuses and changes for the company in the coming year.
“Avon is at a crossroads following the disposal of its historic North American market in 2016. In theory, this step has freed it from a market where it struggled, allowing it to focus on more dynamic international markets,” the firm notes.
“However, the anticipated turnaround in fortunes has yet not happened, and sales continue to fall.”
In order to shake up its performance, the market research firm suggests the answer may lie, at least in part, in digital.
“The prospect of a new CEO in 2018 and a new broom promises a switch in strategic direction, and a better digital strategy appears to offer the most opportunity.”
Old market, new products: supplements brand launch
The beauty company has certainly not given up on the North American market: it looks set to continue to boast an active presence in the region.
Indeed, just this month, the company has launched a new health and wellness brand specialising in nutritional supplements.
"We are rapidly transforming Avon to become the leading social selling company in North America, and broadening our portfolio into the health and wellness category will be a key driver of our success,” says Scott White, Avon Chief Executive Officer.
"We are very proud to enter this critical category with a highly innovative, high performing line of products that is unlike any other on the market today.
“Our Representatives are excited for the opportunity to build their businesses and reach new customers with Espira."