Natura &Co, Avon International’s parent company, released its financial results for the first quarter of 2024. Total consolidated revenue for the company was $1.1 billion, a 5.7% decrease from the first quarter of 2023. Total revenue for Avon International during the quarter was $271 million, a 13.1% year-over-year decline. Natura Brazil saw an 11.3% increase from the same quarter of 2023, but this strong performance was offset by Avon Latam’s Wave 2 rollout and Avon International’s soft performance, posting a 4.2% decline in its Beauty category and a steeper decline within Home & Style. Adjusted EBITDA for Natura &Co was $132 million, up 4.1% from the previous year’s quarter.
“Avon International had another challenging quarter with top-line down, impacted by a steep Fashion and Home decline and a softer impact of CFT categories,” said Fabio Barbosa, Natura &Co Group CEO. “The management team is working on simplifying the market, focusing on key countries, and enhancing our portfolio with superior promotional execution. We believe these steps are crucial to stabilize revenues and keep us on track to improve profitability. We are also continuing to evolve on the studies of a potential separation of Avon, and we will keep the market informed as soon as we conclude such studies.”
