Word: avon
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...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...
...officer watches the rulers of the ancient world reeling around the deck and yearns that the earth were "on wheels." That is very nearly what Director Peter Brook has achieved in his whirling, boisterous version of Shakespeare's long, intractable tragedy, which opened last week in Stratford-upon-Avon. The play is not very often produced: exclusive of intermission, it runs 3% hours and with 42 scenes is as sprawling as a map of the Roman Empire...
Mary A. Ziegenfus Avon Park...