Word: avon
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Dates: during 1970-1979
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...Revlon does stumble, plenty of competitors are waiting to snatch away its customers. Estée Lauder, a family-owned company that stresses a theme of understated elegance in its promotions, concentrates entirely on prestige stores and outsells Revlon in them 3 to 1. In the popular-priced field, Avon still holds a lead, though Revlon has been catching up. In the rush to sign up big-name clothes designers to put their names on perfumes, other firms have been quite as aggressive as Revlon. Revlon bagged Bill Blass, but Norton Simon Inc., parent company of Max Factor, got Halston...
...Avon beat Revlon into the billion-dollar club six years ago, but it sells only door to door. The remainder of Revlon's sales come from products as varied as Turns, blood plasma and contact lens cleaner.* Son Randolph, 23, attends Stanford...
...been with Tiffany, the snob queen of Fifth Avenue and points south and west (it also has stores in Atlanta, Chicago, Houston, Beverly Hills and San Francisco). Last week Tiffany surprised almost everybody by agreeing to sell its whole business?lock, stock and bauble. The buyer will be Avon Products, Inc., the door-to-door giant that knows a lot more about cold cream than carats. Selling to such a mass-not-class company would seem to betray a rare streak of egalitarianism in Tiffany Chairman Walter Hoving, whose often stated political views would make Marie Antoinette's sound like...
...Avon apparently was willing to pay such a high premium, as buyers often do at Tiffany, to clinch the deal quickly in order to avoid a bidding war with other covetous companies. Hoving, 80, long courted by many other suitors, was willing to sell to Avon not only because the price was ripe?$104 million in all?but also because he was promised that he could continue to run Tiffany as an independent fiefdom. Says Hoving: "Charles Tiffany, who founded the company, ran it until he was 92, so I'm going to try to beat his record...
Tiffany sales, which hit $60 million last year, are up a further 27% this year, and much bigger Avon, with a near million-member sales force, has been growing almost as rapidly. In part because more women are working, and they have both the need and the cash to buy plenty of cosmetics, sales this year are running 23% over last year's record $1.6 billion. Costume jewelry has become Avon's fastest-growing line, from nothing in 1970 to $260 million last year. Avon does not intend to abuse the Tiffany name in flogging its own cheaper wares. Says...