Fortune 500 Women CEOs

Corporations, like people, are sensitive to signs of aging. In 2005, Avon underwent a renewal treatment to update its product mix, and reduce costs in an effort to increase sales and profits. Andrea Jung, who's been CEO since 1999, boosted spending on advertising and innovation while she reduced overall staff.

The bets have paid off. Last year, Avon's revenue--nearly $10 billion--and profits of $530 million grew at double-digit rates. Now 121 years old, Avon has regained appeal among young and old with quality lotions and hipper makeup, and has set its global expansion sights on attracting Chinese customers. The Chinese government, in recent years, loosened restrictions on direct sales and, in late February 2006, Avon was granted a direct-selling license by China's Ministry of Commerce.


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