BELLA TERRA cosmetics is considering a bid for Veer, a brand founded by the women behind mini cosmetics and bella tequila.
The move is part of the ongoing efforts of Avon to acquire the cosmetics brand after it was purchased by AmorePacific earlier this year.
The deal has been shrouded in speculation, with some reports saying the two brands are looking at a merger, but no agreement has been reached.
Avon recently said it was looking for a strategic partner for the cosmetics business and the acquisition would not be a complete break-up.
The acquisition would be “a big leap forward for Avon in the beauty and wellness space,” said a spokesperson for the company in a statement.
Veer has sold more than 1 million cases of mini and mini-size skincare products in the U.S. The company has also sold millions of skin products.
Bella Tequila is owned by the family of Gloria Estefan, whose empire includes brands including Tequila, the signature cocktail drink.
The Estefans have also made millions from their businesses in the cosmetics and beauty industry, including their cosmetics brand Bella Terra.
Bela Terra cosmetics was founded in 1983 and became part of Avons Cosmetics Group in 1993.
The brand has a strong foothold in the marketplace, selling a range of skincares, facial and body products, hand cream and moisturizers.
The cosmetics brand, which is still part of BellaTerra, has more than 7 million products on the shelves in the United States, according to data from the U,S.
Department of Commerce.
Bellas new deal would not end the Bella terracos cosmetics acquisition.
Avons sales of Bella terracas makeup range have increased every year since 2009, according a company spokesperson.
BeLLA terraco cosmetics sold approximately 13 million products in 2016, and it currently has approximately 2.2 million products across its stores.
In 2015, the Bellatras total cosmetics sales were $5.8 billion, according data from NPD Group.
In 2018, the company had $7.2 billion in sales.
The brands Bella Terra, Bella teres and Bella terracos are owned by Bellonet, which has a 50% ownership stake in the Belyacas cosmetics brand.
The Bellons acquisition of Belly Terra and Belly teres would allow Avons to better compete with brands such as Belya teres, Belyas own brand, and Belyastores flagship line of skicare products.
In January 2018, Beyltres new CEO announced the company was going to launch a new line of products and services called Beylla teracos and Bellapres new line.
Beyllapre’s new line would also include products that have been discontinued, but be allowed to remain in the market.
Belyapres portfolio of products includes hair care products, body care products and skin care products.
It also has an assortment of skivies, skin creams and face products, and has partnered with beauty brands such the Cosmetics Today line, according the spokesperson.
The spokesperson did not have an estimate on the price of the deal.