• July 12, 2010

Avon Products is buying Silpada Designs, a direct seller of sterling-silver jewelry, for $650 million.

The jewelry company, based in Lenexa, Kansas, and with operations in the U.S., Canada and U.K., sells about 450 different items, all priced higher than Avon's core line. And while Avon reps sell one-on-one, Silpada is sold through a party model; all 32,000 Avon reps will now also be exclusive Silpada sellers.

Silpada, which has annual revenues of $230 million, will continue to operate as a stand-alone company. "Over the past decade, we have watched Silpada build an enviable reputation as a fast-growing, high-quality jewelry brand and one of the most impressive party-plan direct selling organizations in the world," Avon CEO Andrea Jung says in a statement. "This new partnership is an exciting opportunity to reach new consumers and representatives with a higher-tier brand and direct sales model that complements our existing business."--Sarah Mahoney