Avon is the second-most powerful beauty brand in the world, according to the latest Forbes list.
The cosmetics company scored high ratings after a five-year revenue forecast was taken into consideration. Added to this, customer loyalty, willingness to pay a price premium, royalty rates, market share and current market value were rated.
Research was undertaken by brand valuation firm Brand Finance. The firm released their findings during their annual ranking of the 50 biggest global beauty brands, looking at haircare, skincare, make-up and shower products.
Avon, which is valued at billions of dollars, enjoys a strong following dominated mainly by women. It has a 125-year history and was founded by a man – the company writes on its website that founder David H McConnell didn’t originally intend to create a beauty company. A travelling book salesman, he founded Avon in 1886 after realising his female customers were far more interested in the free perfume samples he offered than in his books.
“During his bookselling days, McConnell had also noticed that many of his female customers were isolated at home while their husbands went off to work. So he purposely recruited female sales representatives.
“McConnell believed they had a natural ability to network with and market to other women, and a passion for his products. At a time of limited employment options for women, the Avon earnings opportunity was a revolutionary concept. It marked the start of the company's long and rich history of empowering women around the globe,” states the website.
The Forbes ratings:
8. Estée Lauder
Source: www.forbes.com www.avoncompany.com