Avon International Global Chief Executive Angela Cretu has committed that Avon’s prices will only rise in line with inflation, even amid soaring supply and vendor costs. To keep this pledge, Avon worked with its logistics partners to act early and secure long-term contracts and increase pay for delivery workers.
The UK has seen rapid increases in costs and shortages due to the rising cost of raw materials and lack of supply, but Cretu says the Natura &Co group, which also includes The Body Shop, will work to share its manufacturing and raw materials resources between its family of brands to keep costs stable.
“We made that commitment that we’re not going to price up, but to keep a fair value for all our products, to not pass on as much as possible and to mitigate,” Cretu said. “I’m keen not to put this global turmoil on consumer shoulders.”
Cost pressures are likely to continue for years to come, but Avon’s purchase by beauty group Natura, which now includes more than 6.3 million consultants and representatives operating across 100 countries with combined revenues of more than 8.9 billion euros, has made the company even more prepared for the future.
“It’s going to be challenging, but we’re ready,” Cretu said.
