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CNN Live At Daybreak
Avon's New Line to be Sold by 16+ Representatives
Aired June 25, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for some more business buzz right now. Avon is launching a new product line and this one will be sold dorm to dorm.
Let's go to Carrie Lee at the Nasdaq market site in New York for more on the cosmetic giant's newest venture.
Tell us about it -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: OK. Dorm to dorm, rather than, of course, door to door. Avon launching its Mark line of cosmetics, that's M-A-R-K with a capital M, starting in August. And they're targeting 16 to 24 year olds. They're going to be recruiting sales representatives as young as the age of 16 to sell these products in college dorms and other high school hangout areas, shopping malls and other youth-oriented hot spots.
Now critics are mixed on this idea. Some say it's potentially very lucrative, but this is a great way to build a brand audience at a young age. Others, though, are a little bit more skeptical. They say that teens and people in their early 20s are rather fickle, that they typically want to try a product before they buy it and that Avon's catalog system won't allow them to do that.
Now Avon, for its part, says that in its top 20 markets, 16 to 24 year olds spend about -- more than $200 billion on consumer goods. They do have a Web site called "MeetMark.com," and they say that they've had about 13,000 inquiries already, people interested in selling these products two months ahead of the launch. So, Carol, we'll see if it's successful or not, certainly a new type of venture for Avon.
COSTELLO: And of course we're also waiting for the big rate cut or will we see a rate cut?
LEE: That's right. Well, Wall Street pretty much thinks that we will. A quarter point, a half percentage point that's the question. We'll get that final decision at 2:15 Eastern.
Futures, though, looking pretty good. Looking higher, by the way. We're also going to get a reading on durable goods orders for May, as well as home sales. Yesterday we had a mixed session, the Dow up a little bit on that consumer confidence reading, the Nasdaq, though, lower by about 5 points. But so far so good this Wednesday morning -- Carol.
COSTELLO: All right. Carrie Lee, we'll get back to you in the next half, many thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired June 25, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for some more business buzz right now. Avon is launching a new product line and this one will be sold dorm to dorm.
Let's go to Carrie Lee at the Nasdaq market site in New York for more on the cosmetic giant's newest venture.
Tell us about it -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: OK. Dorm to dorm, rather than, of course, door to door. Avon launching its Mark line of cosmetics, that's M-A-R-K with a capital M, starting in August. And they're targeting 16 to 24 year olds. They're going to be recruiting sales representatives as young as the age of 16 to sell these products in college dorms and other high school hangout areas, shopping malls and other youth-oriented hot spots.
Now critics are mixed on this idea. Some say it's potentially very lucrative, but this is a great way to build a brand audience at a young age. Others, though, are a little bit more skeptical. They say that teens and people in their early 20s are rather fickle, that they typically want to try a product before they buy it and that Avon's catalog system won't allow them to do that.
Now Avon, for its part, says that in its top 20 markets, 16 to 24 year olds spend about -- more than $200 billion on consumer goods. They do have a Web site called "MeetMark.com," and they say that they've had about 13,000 inquiries already, people interested in selling these products two months ahead of the launch. So, Carol, we'll see if it's successful or not, certainly a new type of venture for Avon.
COSTELLO: And of course we're also waiting for the big rate cut or will we see a rate cut?
LEE: That's right. Well, Wall Street pretty much thinks that we will. A quarter point, a half percentage point that's the question. We'll get that final decision at 2:15 Eastern.
Futures, though, looking pretty good. Looking higher, by the way. We're also going to get a reading on durable goods orders for May, as well as home sales. Yesterday we had a mixed session, the Dow up a little bit on that consumer confidence reading, the Nasdaq, though, lower by about 5 points. But so far so good this Wednesday morning -- Carol.
COSTELLO: All right. Carrie Lee, we'll get back to you in the next half, many thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
