Mergers and Acquisitions
According to Avon's 2010 10-K, the firm spent $828 million on the acquisitions of Silpada - a seller of handcrafted sterling silver jewelry - and Liz Earle - a skincare products firm. Silpada followed the same direct-selling model and valued similar core values as Avon. In the terms of the acquisition, Silpada would remain a stand-alone business and the co-founders and management team would continue to lead the company. Unlike Avon and Silpada, Liz Earle, a U.K. based firm, did not follow the direct-selling model with sales generated in stores or by phone instead. As with Silpada, Liz Earle would remain a stand - alone business unit and would continue to be run by its founders.