Moments before Avon Products Inc. annual shareholders meeting began on Thursday morning, several attendees whispered, “It’s so quiet,” and received a response from one staffer, “That’s how we like it.”
Last year at this time, the company was fending off an unwanted takeover bid from Coty Inc. and had recently replaced its embattled chief executive officer Andrea Jung with Johnson & Johnson veteran Sheri McCoy. Jung had introduced McCoy to shareholders last year at this meeting. This time around, McCoy commanded the podium solo — save for brief comments by Avon’s newly named chairman Doug Conant. The board appointed Conant to the chairman post on April 26, following the resignation of Fred Hassan.
“Sheri has the right stuff to get the job done with distinction,” Conant told shareholders.
It wasn’t the only praise McCoy received. During the meeting one investor, who referred to 2012 as a “nightmare” — particularly when Avon’s share price dipped below $14 — nodded to the new management team and early signs of progress, including its bolstered stock price. “Thank you. Keep it up,” he told McCoy.
At the annual meeting on Thursday, shareholders voted on six proposals, including one presented by The Green Century Equity Fund. The proposal called for Avon to review and issue a report on the safety of ingredients used in its products. Green Century said that failure to do so could result in financial and reputational risk for Avon. “We want to turn this company around. This is the future. This is where we want to go,” a spokesman for Green Century told fellow shareholders.
McCoy reiterated Avon’s previous response to the proposal, saying “Avon has a global product safety standard that often exceeds country-specific regulatory requirements.”
The proposal was the only one not approved by shareholders.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)