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Avon weighs exit from more countries

Avon Products Inc. may further narrow its sprawling global footprint, as the door-to-door beauty company refocuses on core markets, seeking to reverse years of weak results, CEO Sherilyn McCoy said on Thursday.

McCoy, who took the top job last April, pointed to Brazil, Russia and China as countries where the company needs to grow. Avon left South Korea and Vietnam last year and may leave other underperforming markets as well, she said.

The cosmetics firm will continue to cut costs as it works to stabilise sales and produce sustainable profits, according to McCoy. It is making changes in its product lineup, marketing and pricing to appeal to more women, including younger consumers, she said.
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