That was very much ahead of its time back in the 1880s and, not surprisingly, it was met with some resistance. [I]f you fast forward to today and the fact that we're the single largest source of employment for women (broadly speaking, as the reps are independent contractors), we've been an important creator of entrepreneurship for women.

I became CEO at the beginning of the hit on old economy stocks. When something like that occurs in your first six months as a CEO of a more traditional branded firm, it makes for a fast learning curve.

China is going to be one of Avon's largest market opportunities. It has a large geographic expanse, with hundreds of thousands of women in small villages really striving to make an earnings opportunity for themselves.

If you feel like it's difficult to change, you will probably have a harder time succeeding.

The game in beauty is changing so much, if your product isn't high tech or can't make a unique performance claim - plump your lips, reduce your lines, look glossy, and stay on for 24 hours - you can't go to market today. I'm not just talking about a $20 lipstick, but a $5 lipstick!

The product is second to managing the people.

Talent is the No. 1 priority for a CEO. You think it's about vision and strategy, but you have to get the right people first.