Avon
This article was originally published in The Rose Sheet
Executive Summary
Divesting Discovery Toys to refocus resources on the cosmetics, toiletry and fragrance business "especially in the areas of brand-building, contemporizing direct selling and expanding consumer access," the company announced Jan. 20. Discovery Toys "is unlikely to reach sufficient size to have a meaningful impact on Avon's overall results," the firm added. Avon sold the educational games, toys and software direct-sales business to Morristown, N.J.-based McGuggan, which holds investments in the direct-selling industry. The firm acquired the unit in 1997, saying at the time it was interested in pursuing other business areas ("The Rose Sheet," Feb. 3, 1997, In Brief)