[straight news network Beijing on July 19 hearing (Knowledge Economic Journal) acquisition of Avon's North American operations, Thurber Roth capital management company senior executive director Stephen Mayer said: "our goal is to revive the brand Avon, improve the competitiveness of the new Avon and achieve long-term, stable and sustainable growth, make it become more modern, efficient and profitable."

Have no intention of the field, AVON's first quarter results continued to decline in 2016, which has been the 18 consecutive quarterly decline in AVON's performance. Now AVON, urgent need to get rid of the plight of the recovery process as soon as possible.

AVON's first quarter net loss widened to $1.659 in the first quarter of 2016, with total revenue down 16% to $13, according to AVON's first quarter net loss. Among them, the Asia Pacific region fell 17% to 1.367 U.S. dollars, according to a fixed exchange rate of 10% decline in the calculation. By product category, AVON perfume, skin care products and cosmetics plate sales in the first quarter of this year, there were more than 10% decline. Specifically, the skin care products sales fell 22 percent to $367 million, compared to the same period last year of $468 million; fragrance sales from last year's $393.2 million fell 14% to $to 3.365 million; cosmetics sales 15% decline, from 2.927 billion over the same period last year fell to 2.479 billion.

In recent years, AVON has launched many initiatives in the world, has been working in the mud out of recession from performance. At present, AVON is implementing a restructuring plan, designed to provide $3.5 in savings of three years, and lay off 1700 people. As part of the plan, the Avon Co has moved its headquarters to the uk. But whether through the move to profitability, the situation is not optimistic.

For the first quarter of 2016 continued losses, AVON made an explanation, saying the loss is mainly from the termination of the business, including the value of $960 in North America business.

In fact, AVON's North American business has been a half year ago to achieve restructuring, becoming a private capital and Avon Co jointly holding a new company - the new AVON (Avon New).

AVON North America to set up a new company in North America

In mid December 2015, Thurber Roth capital management company announced that will invest $605 million recycling Avon in North America business, Avon company also said that have accepted Thurber Ross capital management, investment and cooperation agreement, the purpose is to improve the company's performance.

Subsequently, the smooth implementation of the plan. Ross Thurber capital management company paid $1.7 to own 80% of the shares of AVON North America, the establishment of a new Avon Co, and appointed a new CEO, AVON has retained only 20% of the equity. After the reorganization of the new AVON bear the Avon Co $2.3 of long-term debt, at the same time, Ross Thurber also injected $4.35 to acquire a 16.6% stake in the Avon Co.

Ross Thurber capital management, founded in 1992, is one of the world's largest private investment institutions in New York, the United States. Ross Thurber focused on providing financial resources and operational expertise to help the value of the company has been underestimated to develop into an industry leader, is committed to the long-term success of these companies and the value of the upgrade. Ross Thurber, the company currently has a significant investment in more than and 50 companies, the more than and 50 companies around the world to create a total of $about 60000000000 in annual revenue. After the injection of new AVON capital holdings, Ross Thurber said the company will focus on improving its sales, create new product lines and new incentive mechanism.

AVON's North American business has been struggling, while its growth in emerging markets was strong. AVON's sales in North America alone accounted for 14% of the company's revenue, but in 2015, nearly half of the company's sales in Latin america. AVON chief executive Sheri McCoy said: we believe that this cooperation can further improve our financial flexibility, we have a strong capital source and flow of working capital. AVON North America to ensure that the two companies have a profitable way to dominate the profitability and growth of the best way."

Thurber Roth capital management company senior executive director Stephen Mayer said "after several months of adjustment, our management team is in place, the Avon brand and direct sales business model, with strong potential, we have the confidence to make it better in North America, and even the international market. Our goal is to revive the AVON brand, improve the competitiveness of new AVON, to achieve long-term sustainable growth, so that it becomes more modern, efficient and profitable."