Richmont Said Still Interested in All or Part of Avon

Richmont Holdings, a closely held investor in consumer brands, is exploring an offer for all or part of Avon Products Inc. and has approached Avon to express its interest, according to people familiar with the matter.

Richmont, which approached Avon before Coty Inc. withdrew a sweetened $10.7 billion bid May 14, is betting Avon would consider its proposal a friendlier alternative, said the people, who declined to be identified because the matter is private. As one option, Richmont may consider offering to buy a minority stake of 25 percent or more, the people said.