Cosmetic Enhancement for Penney's

JCPenney, which earlier had announced a strategic alliance with Avon Products – including the introduction of a new Avon beauty brand in 75 major market JCPenney department stores in the second half of 2001 – will also create a new cosmetics division to seek growth of market share in this product segment. The division will actively explore other possible partnerships to achieve a merchandise selection that is a balance of national and proprietary brands. Currently, approximately 900 Penney stores (out of roughly 1100) carry cosmetics. Jeffrey Askenas, previously a senior cosmetics merchandise executive at both Elder-Beerman Stores and Belk Stores, has been named divisional merchandise manager of cosmetics, reporting to the president of JCPenney's women's accessories division.