Report
Natura &Co Holding SA
Parque Anhanguera
Phone: +55 1143899700p:+55 1143899700 SAO PAULO, 05.106-000  Brazil Ticker: NATU3NATU3
On 8/12/2024, Natura &Co Holding SA's subsidiaries, Avon Products Inc., AIO US, Inc.(a/k/a Avon International Operations Inc.), MI Holdings, Inc., and Avon Capital Corporation, filed Chapter 11 Bankruptcy Petitions in the U.S. Bankruptcy Court for the District of Delaware.
No impact is expected on Avon’s operations outside the Unites States, which are not part of the Chapter 11 proceedings.

Avon begins to manufacture Natura and The Body Shop products in Mexico


As part of its merger with Natura &Co, Avon has begun manufacturing products for Natura and The Body Shop in Mexico, after the acquisition was announced in May 2019, the integration of which has progressed gradually and today the firm produces for the global corporate from its factory in Celaya.

"We have already started to do it. We call it the Avon plant because it is the icon of so many years in Celaya. Since the integration with Natura began, they have seen what a wonderful plant we have, that in Mexico we could produce in an extraordinary way, supporting the service. We already have Avon, The Body Shop and Natura products in full production. We are proud that we were able to focus a lot of local production with the group", said Magdalena Ferreira Lamas, Avon general manager for the Avon Northern Latin American Markets Group.

During the first quarter of the year, Natura &Co (which includes Avon, Natura, The Body Shop and Aesop) reported net income of 8.3 billion reais, around 32.777 billion pesos, which represented a negative variation of 4.6 percent in constant currency.

The company indicated that the performance was impacted by the increase in inflation that affected discretionary spending in key markets, cost pressures in the supply chain, unfavorable currency movements and the first effects of the war in Ukraine.

He also added strategic decisions by Natura &Co related to Avon's transformation, including a reduction in the product portfolio and the implementation of the new commercial model, with first indicators already showing improvements.

Ferreira said that at the beginning of the covid-19 pandemic, the company started with the launch of antibacterial gel and then merged the two brands.

The Celaya plant manufactures perfumery products for Natura and body and hand care products for The Body Shop.

"We had available capacity and were able to incorporate it in order to continue increasing productivity. Avon is still very large, but the importance they are beginning to gain is very important," he added.

The merger left Natura &Co as the world's fourth largest global beauty products group.

KL/AMP

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