(LG Household & Health Care) LG Household & Health Care is selling its Avon business in North America, operated independently as the Avon Company, as it shifts gears toward retail and digital channels for its Korean beauty and wellness brands, the company said Monday.In a regulatory filing, LG H&H USA signed a stock purchase agreement to sell its stake in the Avon Company to Regent affiliate Stratford Worldwide, the global investment firm that operates Avon International. The exact sale price will be finalized when the deal closes.Regent acquired Avon International in January and now runs the Avon business across Europe, Asia, Africa and other markets outside North America. Once the deal closes, Avon's North American arm will fall under the same leadership, with plans to deepen collaboration on product development, marketing and social selling.LG H&H, which acquired the Avon business in April 2019 for $125 million, called the sale part of a wider portfolio realignment meant to concentrate resources on higher-growth brands and channels amid shifting consumer habits.That includes building out its retail and digital footprint through fast-growing names like Dr. Groot, Belif and CNP Laboratory to widen its K-beauty and wellness lineup."This decision lets Avon pursue new growth through its social-selling model, while allowing us to focus more on a brand-centered growth strategy in North America," a company official said.Alongside the sale, LG H&H USA agreed to convert loans it had extended to the Avon Company into equity, a move meant to clear internal receivables between the two entities. No additional cash changes hands, and ownership stakes remain unaffected.