Avon Enters The World Of Jewelry
Avon, which is a company best known for their cosmetics, has plans to reach out the in the jewelry industry. The recent announcement released suggests that Avon will purchase the Jewelry Seller Silpada for at least 650 million dollars. The sterling silver jewelry seller, Silpada Designs' annual revenue is appropriately
$230 million, which Avon believes is a good investment to expand the Avon company.
Many people may not be aware that Avon already sells a small line of jewelry, however as price ranges under $25, the profit margin on the jewelry is significantly lower than Silpada Designs. Through investing in Silpada Designs, Avon will be able to not only expand their business, but deliver more sophisticated and beautiful pieces to consumers.