According to a New Zealand Herald article, Mary Kay has closed its Australian and New Zealand operations, blaming weak consumer conditions for the failing business.
The company said in a statement it ceased business immediately with the sales force network given until April 6 to return any unsold products.
“It is a decision Mary Kay has not taken lightly,” the statement read. “A combination of market conditions across Australia and New Zealand are such that the business does not see a sustainable future in either markets. Mary Kay will be focusing on its core growth markets across the globe.”
According to Forbes, Mary Kay’s global independent sales force exceeds 3.5 million people in 40 countries, with revenue of US$3.6 billion in 2018.