Avon brings in new head to turn around flagging fortunes

Avon Products Inc, the world's largest direct seller of cosmetics, has appointed a new head of its Chinese operation - its fourth in five years - in the hope of turning around the declining business.

The move comes just days after the company was forced to dismiss rumors that it is exiting the country after a prolonged slump in sales, the result of what experts said was a lack of product innovation.

"China has been an important market for us for more than 25 years and we are proud to serve our loyal customers who know and trust the Avon brand, our strong network of beauty boutiques and our market-leading range of products," the company said in a statement on Friday.