NEW YORK, Feb. 10, 2014 -- /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) today announced that it has entered into an agreement through which KORRES has granted Avon exclusive rights to develop, manufacture and market KORRES products in Latin America. Created by Greek pharmacist George Korres, KORRES is a Greek skincare brand established for its highly efficacious natural formulations.
This long-term strategic alliance includes all major markets where Avon operates in Latin America, and provides Avon the option to purchase all of the intellectual property rights to the KORRES products in that region.
"Latin America is a growing beauty market and a major component of the Avon portfolio. I'm very pleased that through this strategic alliance, we can leverage Avon's extensive network and capabilities to bring the KORRES brand and products to more women across Latin America," said Sheri McCoy, Chief Executive Officer, Avon Products, Inc.
Read more...