AVON COSMETICS LIMITED
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Cash
£189M
+22.5% vs 2023
Net assets
-£805M
-56.4% vs 2023
Employees
456
-23.7% vs 2023
Profit before tax
-£296M
+27.1% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
As the Sale has not yet completed, the Directors currently have no visibility into the Buyer's post-acquisition intentions, which could materially impact the Company's strategic direction, including any planned investment, financing or restructuring. These factors cannot be reliably incorporated into the cash flow forecasts, introducing uncertainty into the Company's going concern assessment. As a result, this indicates the existence of a material uncertainty which may cast significant doubt over the Company's ability to continue as a going concern.
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £428,358,000 | £352,093,000 | -17.8% | |
| Operating profit | -£182,576,000 | -£137,348,000 | +24.8% | |
| Profit before tax | -£405,241,000 | -£295,621,000 | +27.1% | |
| Net profit | -£407,275,000 | -£303,486,000 | +25.5% | |
| Cash | £154,403,000 | £189,199,000 | +22.5% | |
| Total assets less current liabilities | -£64,885,000 | -£515,409,000 | -694.3% | |
| Net assets | -£514,871,000 | -£805,343,000 | -56.4% | |
| Equity | -£514,871,000 | -£805,343,000 | -56.4% | |
| Average employees | 598 | 456 | -23.7% | |
| Wages | £79,808,000 | £66,376,000 | -16.8% | |
| Directors' remuneration | £835,000 | £2,347,000 | +181.1% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -42.6% | -39.0% | |
| Net margin | -95.1% | -86.2% | |
| Return on capital employed | 281.4% | 26.6% | |
| Gearing (liabilities / total assets) | 152.3% | 191.8% | |
| Current ratio | 0.44x | 0.35x | |
| Interest cover | -2.92x | -1.89x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“As the Sale has not yet completed, the Directors currently have no visibility into the Buyer's post-acquisition intentions, which could materially impact the Company's strategic direction, including any planned investment, financing or restructuring. These factors cannot be reliably incorporated into the cash flow forecasts, introducing uncertainty into the Company's going concern assessment. As a result, this indicates the existence of a material uncertainty which may cast significant doubt over the Company's ability to continue as a going concern.”
Group structure
- AVON COSMETICS LIMITED · parent
- Avon European Financial Services Limited 100%
- Avon Holdings Vagyonkezelo Kft. 100%
- Avon Netherlands Holdings B.V. 100%
- Avon Netherlands Holdings II B.V. 100%
- Avon Kozmetika d.o.o. 100%
- Avon Cosmetics, spol. s.r.o 100%
- Avon Eesti OU 100%
- Avon Cosmetics GmbH 100%
- Avon Cosmetics Georgia LLC 100%
- Avon Cosmetics Hungary Kft. 100%
- Avon Cosmetics S.r.l a Socio Unico 100%
- Avon Cosmetics SIA 100%
- UAB Avon Cosmetics 100%
- Avon Cosmetics DOOEL 100%
- Avon Cosmetics Montenegro d.o.o Podgorica 100%
- Avon Cosmetics Polska Spolka z.o.o 100%
- Avon EMEA Finance Service Centre Sp. z.O.O 100%
- Avon Operations Polska sp. Z.O.O 100%
- Avon Distribution Polska sp. Z.O.O 100%
- Avon Cosmeticos, Lda. 100%
- Avon Cosmetics (Romania) S.R.L 100%
- Avon Beauty Products Company (ABPC) (Russia) 100%
- Avon Cosmetics SCG d.o.o Beograd 100%
- Avon Cosmetics, spol s.r.o 100%
- Avon d.o.o., Ljubljana 100%
- Avon Kozmetik Urunleri Sanayi ve Ticaret AS 100%
- Avon International Capital Company 100%
- Avon Colombia Holdings I 100%
- Avon Colombia Holdings II 100%
- Avon Egypt Holdings I 100%
- Avon Egypt Holdings II 100%
- Avon Egypt Holdings III 100%
- Avon Asia Holdings Company 100%
- Avon Beauty Limited 100%
- Avon Products (China) Co., Limited 100%
- Avon Healthcare Products Manufacturing (Guangzhou) Limited 100%
- Avon Cosmetics Egypt, S.A.E. 100%
- Viva Cosmetics Holding GmbH 100%
- Avon Holdings Ltd. (Bermuda) 100%
- Avon International (Bermuda) Ltd 100%
- Avon Export Limitada 100%
- Productos Avon S.A. 100%
- Avon Cosmetics (Greece) EPE 100%
- Avon Cosmetics (Moldova) S.R.L 100%
- Avon Cosmetics Ukraine 100%
- Avon Cosmetics (FEBO) Limited 100%
- Avon Cosmetics (Malaysia) Sdn. Bhd. 100%
- AIO Asia Holdings, Inc. 100%
- LLP Avon Cosmetics (Kazakhstan) Limited 100%
- Avon Beauty Products, SARL 100%
- Avon Cosmetics (Taiwan) Ltd. 100%
- Avon Products Mfg., Inc (Phillipines) (MFG) 100%
- Viva Netherlands Holding BV 100%
- Beauty Products Latin America Holdings S.L. 100%
- Avon Cosmetics Bulgaria EOOD 100%
- Avon Cosmetics LLC 100%
- Avon AIO Sdn Bhd (Brunei) 100%
- NF Cosmetics LLC 99%
- Beauty Products Holding S.L. 100%
Significant events
- “In February 2024, Natura &Co Holding S.A. ("Natura Group") announced a review of a potential separation of Natura &Co Latin America and the Avon International group to unlock further shareholder value. During the financial year, Natura continued to simplify operations to strengthen its core business, focusing on Latin American operations.”
- “On 17 September 2025, Natura announced the sale of Avon International.”
- “The Company responded to pressures by streamlining its footprint, including the closure of Avon Cosmetics Finland OY, the £15.0m sale of the Corby warehouse site, and the closure of cash pooling arrangements.”
- “A major refinancing was completed, including a new £284.0m ($355.0m) revolving credit facility to support liquidity, mainly replacing one of the cash pooling arrangements.”
- “The Chapter 11 filing of Avon Products Inc., the Company's immediate parent company, in August 2024 had limited operational impact but prompted a review of intercompany arrangements and a fair value price allocation exercise of the Company's assets as part of Natura re-acquiring the Avon International Group in December 2024.”
- “During 2025, the Company and its subsidiaries have undertaken a comprehensive review of their cost structure. This has resulted in significant staff reductions, the curtailment of certain IT development projects, a reduction in office space, and other targeted expense savings.”
- “On 18 September 2025, Natura announced that a U.S. private equity firm, Regent, had agreed to acquire the Company's immediate parent company, Natura & Co UK Holdings Limited, together with its subsidiaries.”
- “On 20 March 2025, the ultimate parent company of the Group changed from Natura &Co Holdings S.A. to Natura Cosméticos S.A. ("Natura") following a corporate restructuring in Brazil.”
- “In June 2025, the Company sold its Moroccan investment to a Moroccan distributor.”
- “On 15 September 2025, Natura Cosméticos S.A. completed the sale of Avon entities in Panama, El Salvador, Guatemala, Nicaragua, Honduras, and the Dominican Republic ("CARD") to Grupo PDC.”
- “On 9 October 2025, the Company sold its investment in Avon Holdings Netherlands BV II and its subsidiaries, Avon Beauty Products Company (ABPC) (Russia) and NF Cosmetics LLC, to Natura &Co International S.a.r.l for $30.3m.”
- “On 12 December 2025, the Trustees of the UK defined benefit scheme agreed a bulk purchase annuity policy buy-in, for a premium of £234.0m.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 72 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| TOLLEY, Anna Elizabeth | Secretary | 2025-04-03 | — | — |
| SAVVIDOU, Maria | Director | 2026-02-02 | Sep 1977 | Cypriot,Canadian |
Show 72 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOGIRA, Stephen William | Secretary | 1997-10-16 | 1999-03-29 |
| DESFORGES, Karine | Secretary | 2013-07-18 | 2014-09-25 |
| FEAKIN, John Philip | Secretary | 1997-01-03 | 1997-10-16 |
| GARLEY-EVANS, Lisa Mary | Secretary | 2002-11-01 | 2005-03-01 |
| HODGES, Jody | Secretary | 2021-10-15 | 2023-08-01 |
| JOWETT, Jonathan David | Secretary | 1994-06-29 | 1997-01-03 |
| LEGGETT, Frank Ian | Secretary | — | 1992-03-31 |
| LLOYD, David Frank | Secretary | 1992-04-01 | 1994-06-29 |
| NORTH, David | Secretary | 2023-08-01 | 2025-04-01 |
| PASSINGHAM, Matthew | Secretary | 2018-06-18 | 2021-10-15 |
| STRONACH, Carole Lesley | Secretary | 2005-03-01 | 2012-04-18 |
| WARWICK, John Stephen | Secretary | 1999-03-29 | 2002-11-01 |
| AFONSO, Daniel | Director | 2011-02-08 | 2012-02-03 |
| AGARWAL, Vikram | Director | 2019-02-26 | 2020-01-06 |
| ASHPOLE, Arthur John | Director | 1998-08-01 | 2000-12-31 |
| BAKER, Mary Elizabeth | Director | — | 1998-05-12 |
| BARBROOK, Laura Sophie Scudamore | Director | 2019-04-03 | 2020-03-06 |
| BERRY, Mark William | Director | 2000-12-03 | 2003-07-01 |
| BOGIRA, Stephen William | Director | — | 2000-01-04 |
| BOSSON, Steve | Director | 2006-04-04 | 2009-03-23 |
| BRIDDON, Robert Michael | Director | 1998-04-06 | 2001-04-05 |
| CARTER, Graeme Harford | Director | 2020-03-09 | 2022-03-31 |
| CLARK, Nigel | Director | 2011-09-12 | 2012-10-15 |
| COMARD, Matthieu Pierre Felix | Director | 2017-12-14 | 2018-07-06 |
| CORTI, Robert Joseph | Director | — | 2001-09-01 |
| CURTIS, Bronwen Mary | Director | 1993-01-01 | 2001-09-01 |
| GALLAGHER, Andrew Thomas Martin | Director | 2011-02-08 | 2016-11-14 |
| GARLEY-EVANS, Lisa Mary | Director | 2006-03-02 | 2012-10-15 |
| GILL, Annette | Director | 2001-09-01 | 2011-02-08 |
| GUDGIN, Michael Douglas | Director | 1993-01-01 | 1995-08-31 |
| HORN, Brian Martin | Director | 2025-04-03 | 2026-02-02 |
| HUTCHISON, Samantha | Director | 2011-09-12 | 2018-07-06 |
| IBBOTSON, Stephen Duncan Julian | Director | 2000-01-04 | 2009-10-01 |
| JUDGE, Alastair Anthony | Director | 2016-11-14 | 2018-04-30 |
| JUDGE, Alastair Anthony | Director | 2009-03-23 | 2012-10-15 |
| KOPA, Marcin | Director | 2024-05-29 | 2025-03-31 |
| LOUGHRAN, Robert | Director | 2016-11-14 | 2018-03-30 |
| LYONS, Mary Josephine | Director | 1994-03-01 | 1995-06-08 |
| MARSHALL, Karen Siri | Director | — | 1994-10-15 |
| MATHEWS, Charles Richard | Director | 1995-06-08 | 2006-11-30 |
| MCDONALD, Jeremy Mark | Director | — | 2006-02-01 |
| MESZES, Istvan | Director | 2007-04-24 | 2011-02-08 |
| MITCHELL, Brian Jack | Director | — | 1998-05-12 |
| MOUNTFORD, Sandra Ann | Director | 1996-06-13 | 2001-04-05 |
| MYERS, Jonathan Charles | Director | 2018-06-25 | 2020-01-06 |
| NEIRYNCK, Kristof Leon | Director | 2024-05-29 | 2026-03-16 |
| NEWTON, Alan Millard | Director | — | 1994-12-31 |
| NICHOLS, Peter Shaun | Director | 1995-01-01 | 2006-06-14 |
| ORMISTON, Susan | Director | 2018-06-25 | 2019-01-25 |
| OWEN, Caroline | Director | 2000-08-01 | 2002-11-01 |
| PARCZUK, Michelle Louise | Director | 2012-02-03 | 2016-11-14 |
| PIKE, Nicholas John | Director | 2025-04-03 | 2026-01-31 |
| PINNOCK, Richard James | Director | 2006-09-29 | 2011-09-12 |
| RIGG, Bryan | Director | 2005-09-14 | 2006-02-28 |
| ROGBERG, Carl Elis | Director | 2020-02-04 | 2022-06-30 |
| RUSSELL, Allyson Anne | Director | 2005-05-16 | 2012-05-31 |
| SCHLACKMAN, Scott David | Director | 2011-09-12 | 2013-04-30 |
| SCOTT, Louise Gail | Director | 2022-03-31 | 2024-07-01 |
| SEGATTI, Anna | Director | 2008-04-10 | 2011-09-12 |
| SLATER, Andrea Clare Vivien | Director | 2013-05-03 | 2017-11-02 |
| SLATER, Andrea Clare Vivien | Director | 2001-09-01 | 2007-10-11 |
| SOUTHWORTH, Paul | Director | — | 1996-06-07 |
| STRONACH, Carole Lesley | Director | 2016-07-29 | 2016-08-25 |
| TODD, Michael David | Director | 1996-11-18 | 2000-08-01 |
| TOLLEY, Anna Elizabeth | Director | 2021-06-08 | 2025-03-31 |
| TOUSIGNANT, Marc-Andre | Director | 2009-10-01 | 2011-09-12 |
| TUCKER, Angela | Director | 2011-09-12 | 2012-10-15 |
| VAN BUSKIRK, Cory | Director | 1997-10-16 | 1998-07-31 |
| WATSON, Michael Richard | Director | 2006-07-14 | 2007-04-24 |
| WATTS, Andrew James | Director | 2006-05-30 | 2011-09-12 |
| WILMOT, Gillian Caroline | Director | 1995-08-01 | 1998-02-11 |
| WILSON, James Simpson | Director | 2018-06-25 | 2019-03-05 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Michael Alan Reinstein | Individual | Appoints directors | 2025-12-31 | Active |
| Natura &Co Uk Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-12-10 | Active |
| Avon Products, Inc. | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-11-30 | Ceased 2024-12-10 |
| Avon European Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2016-11-30 |
Filing timeline
Last 20 of 347 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-07 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-18 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-07 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-04 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2026-02-27 | SH01 | capital | Capital allotment shares | |
| 2026-02-18 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-08 | RP01SH01 | miscellaneous | Legacy | |
| 2026-02-03 | RP01SH01 | miscellaneous | Legacy | |
| 2026-02-03 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-02 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-22 | SH01 | capital | Capital allotment shares | |
| 2026-01-21 | SH01 | capital | Capital allotment shares | |
| 2026-01-21 | SH01 | capital | Capital allotment shares | |
| 2026-01-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 4
- Officers appointed
- 1
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.