Avon Names Witherspoon New Face

Academy Award-winning actress Reese Witherspoon will be Avon's first-ever "Global Ambassador," announced the global beauty giant on Wednesday at a press conference in Beverly Hills.

Witherspoon, who won as Oscar for her portrayal of June Carter Cash in 2005's "Walk the Line," will serve as Honorary Chairman of the Avon Foundation and will also appear in the company's international ad campaigns as part of a multi-year agreement.

"I feel a great responsibility in my own life to give back to society," said Witherspoon at a press conference held yesterday in Beverly Hills. "Now, as the Honorary Chairman of the Avon Foundation, I am proud to be joining in the great philanthropic work that is already underway."

The Avon Foundation's primary aim, and Witherspoon's new role, is to raise awareness of their work in the areas of breast cancer awareness, domestic violence and emergency relief.

On Wednesday, Avon announced a dip in second quarter profits, earning $112.7 million, or 26 cents a share down from $150.9 million, or 33 cents a share, a year ago.

Increased advertising costs and restructuring charges were part of the reason for this shift. Compared to a year ago, Avon increased the money spent on advertising by 74 percent to $93 million and announced Tuesday they would up their advertising budget to $375 million this year, 50 percent more than last year.

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