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Message from Avon
Chief Executive Officer
Sheri McCoy

March 2014

Welcome to Avon's Corporate Responsibility Report. This report is organized around the three pillars underpinning Avon's corporate citizenship priorities: Women's Empowerment, Sustainability and Philanthropy. These three priorities reflect a commitment Avon founder David H. McConnell made more than 125 years ago, that Avon would "contribute to the well-being of society and the environment in which it functions." This is why we engage and mobilize our more than 6 million Sales Representatives, 36,000-plus Associates and millions of customers to make a meaningful impact around the world. And we are guided by our mission, principles and values, which includes earning the trust of our stakeholders by exhibiting integrity and embracing transparency.

At Avon, the priority to empower women starts with helping our independent Sales Representatives to achieve economic independence. We are there to support them because each Avon Representative is in business for herself, but not by herself.

When it comes to our second pillar, sustainability, the company has made strong commitments to environmental stewardship, both externally and internally. Since 2010, Hello Green Tomorrow has driven worldwide mobilization in more than 50 countries to help end deforestation. Our most recent internal efforts include the Avon Paper Promise, Palm Oil Promise and Green Building Promise, which all address impacts in areas of material importance to our business and the planet.

The third element of Avon's Corporate Responsibility is global philanthropy, which is focused on the critical issues of breast cancer and violence against women as well as disaster relief. Through the efforts of our corporate philanthropy and the U.S.-based Avon Foundation for Women, we have donated more than U.S. $975 million worldwide, making the Avon Foundation the largest corporate-supported foundation dedicated to women's causes globally.

Looking ahead, we have many ambitious goals. For global philanthropy, we hope to reach $1 billion by 2014. In sustainability, we are targeting a 20% absolute reduction in green house gas emissions by 2020. And we will continue to offer economic empowerment to millions of women worldwide.

Through this report, you will learn about our progress and our goals. We encourage you to share feedback at avoncr@avon.com.

Your input will help us meet the expectations of our stakeholders and address the topics that matter most in an open and transparent manner.

Thank you for your interest in Avon. We look forward to hearing from you.

Sheri McCoy
Chief Executive Officer
Avon Products, Inc.

"We believe in living by our mission, principles and values"