Emerging markets may also sink you Based in New York, Avon Products, Inc. (NYSE:AVP) is the second largest beauty producer and manufacturer in the world with products sold in over 140 countries. More recently, the firm has sold one of its jewelry businesses while analyst keep ratings high. However, this analyst is not so sure this company will reap benefits from new markets. At the moment, Avon Products, Inc. (NYSE:AVP) has developed a cost reduction policy, a new representative valuation program, and has taken steps to reduce debt levels. Down the road, the firm will have to tweak the business model in order to revert decreasing revenues, improve returns on capital invested and performance at emerging markets, complete costs cuts, and test the new management. The company is currently at a financial crossroads. During the last five years, revenue has stagnated, while net income and cash flow have decreased.