Avon expects to post double-digit increase in net sales in Ecuador this year, which follows 13% year-over-year increase last year, to US$120M; country's dollarization system has helped Avon plan long-term, says company executive
August 19, 2011
– New York-based Avon Products Inc. expects sales for its unit in Ecuador to post a double-digit increase this year, its business manager said on Wednesday, reported Dow Jones Newswires on Aug. 17.
This follows 13% year-over-year increase in 2010’s net sales of US$120 million, which was up 274% from 2005, according to Pablo Mogollon, who was releasing Avon Ecuador sales data for the first time.
Ecuador is an “important place” for Avon, he said, noting that since the country adopted the U.S. dollar as its currency in 2000, Avon has been able to plan long-term and expand.
The primary source of this article is Dow Jones Newswires, Princeton, New Jersey, on Aug. 17, 2011.