Korres partners up with Avon for Latin American debut

Athens-listed company Korres Natural Products on Tuesday announced its strategic partnership with New York-listed cosmetics giant Avon for the production and distribution of the Greek company’s products in Latin America.

The partnership starts this month and is projected to last for 14 years.

It also concedes to Avon the right to buy all rights of Korres products in Latin America in the future.

The deal secures the Greek firm revenues of about 8.5 million euros for the first 12 months of the partnership.