By Laura Klepacki
“…this ebook is key for a number of reasons…avon is the epitome of the entrepreneurial innovator; studying the way it was once performed is definitely definitely worth the time spent.” (MBA enterprise, summer season 2005)
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Additional resources for Avon: Building The World's Premier Company For Women
In 1901, the company reported sales of $200,000. Of that, Avon representatives were paid $80,000, or 40 percent of the total. McConnell favored the person-to-person sales method because it was, he wrote, “the most economical way” to get products into the hands of consumers. ” As noted by Ann Meany, McConnell’s longtime secretary, “The profits were immediate. ” According to Meany’s memoir, McConnell once told her, “No man ever had to put himself, even $1, into the California Perfume Company,” which was now widely known as Avon.
Tiffany was the first of many businesses that would come and go quickly under the Avon fold during the 1980s. Tiffany was sold to an investment group led by William Chaney, an Avon executive who had been put in charge of the business after its acquisition in 1979 for $105 million in stock. Tiffany was sold for $135 million, giving Avon a $30 million premium on the deal. Other such ventures would not be as profitable for the company. MOVING ON TO OTHER VENTURES Avon seemed open to trying just about anything.
He was also a member of the Union League in New York and of the Masonic Order. Yet, in the annals of powerful cosmetics families—Mary Kay, Estée Lauder, Max Factor, Helena Rubinstein, Elizabeth Arden, and Revlon (named after Charles Revson)—the McConnell name remains relatively unknown. Family members and descendants of McConnell have been adept at keeping their lives private, acknowledges Hays Lawrence (Larry) Clark, a great grandson who opted for a career in oceanography rather than cosmetics.
Avon: Building The World's Premier Company For Women by Laura Klepacki