Bart Becht, Coty's chairman, says he does not want to launch a hostile bid.
Avon gets about two-thirds of its sales from emerging economies, whereas Coty depends on rich ones.
Coty's plan for squeezing more out of Avon, should its takeover offer succeed, includes spending more on technology.
In 2003, her father Peter, now the chair of cosmetics firm Coty Inc.
There is no quick fix for Avon, so many shareholders will be tempted to take Coty's money and run.
Coty has been on an acquisition spree in the past couple of years.
It was quite an event, on par with the massive budgets that fragrance houses like Coty use to back new scents.
FORBES: Lady Gaga's Fame Party Heralds The Next Big Thing In Celebrity Scents
In an interview this month, Coty Chairman Bart Becht said he would inject money for systems and support, beef up research and development, and invest in training and technology.
Avon shares fell 49 cents, or 2.1%, to 23.03 after the company reiterated its opposition to fragrance company Coty's buyout bid, saying the offer undervalues the door-to-door beauty company.
"With a new CEO, Avon's board firmly believes that there is greater opportunity to improve shareholder value in excess of Coty's conditional indication of interest, " the beauty firm said in a statement responding to Coty's offer.
应用推荐