

However, getting close to the customers and providing them with new ways of accessing the brand through retail and electronic commerce is essential to our growth. We have intensified this approach and we are now truly transforming Avon into an omnichannel business. By the end of 2024, the core range of Avon products could be found at more than 2,300 points of sale, enabled by partnerships with beauty specialists, and online in marketplaces and the e-commerce channel.
The process of revitalizing our brand has continued, with excellent progress in 2024, including a restructuring of the visual identity and the ongoing evolution of the portfolio to provide the market with accessible and aspirational products, focusing on key innovations and hero products, which are much-loved by our consumers. Through our partnership with Cruelty Free International, all Avon beauty and toiletries products are now certified cruelty-free by the Leaping Bunny Program. Furthermore, 80% of the packaging is now reusable, refillable or compostable, and 10% of the plastic we use is recyclable (PCR).
For 139 years, Avon has supported women to be able to earn a living and learn on their own terms, and has encouraged them to celebrate their own power and potential. Using our voice and resources, we support causes that strengthen women’s health and wellbeing. So far, through Avon and the Avon Foundation, we have donated more than US$ 1.1 billion, mainly on tackling gender violence and breast cancer.
We also focus strongly on the cost reduction targets, simplifying our operations even more, evaluating and redefining the senior management, and modernizing our IT infrastructure, which has already resulted in significant savings. Having completed the full decommissioning of the installation in Suffern (New York, USA), we concluded the transfer of our R&D activities to Cajamar, in Brazil, without any interruption to our innovation funnel. We also took steps forward with the transformation agenda, addressing issues related to Avon Products, Inc. (API) in the United States, and its associated debts and liabilities. API’s voluntary Chapter 11 proceedings, which have now been concluded, opened up a path along which we are now able to confidently pursue our ambitions.
Our ambitious plans would not be possible without the right mindset and the renewal of the expected form of behavior to be able to take Avon forward and provide the foundations for our success. We invest time and resources to construct a culture that promotes simplification, encourages responsibility and self-belief, and welcomes measured risks and constructive challenges. We are ready to conclude our journey of transformation and begin to deliver the expected results. This is being undertaken through the revival of effective performance, without losing sight of the costs, and offering world-class aspirational beauty that is accessible and sustainable.