Avon Products Inc. is positioned to withstand economic weakness because of geographic diversity and demand for its favorably priced cosmetics, according to one analyst.

Citi Investment Research analyst Wendy Nicholson, in a client note, said Avon has benefited from its geographically diverse portfolio, favorable business model, and “value-priced” positioning. Nicholson said the company’s North America business has performed well when traditional brick-and-mortar retailers have not.

“The company has delivered remarkably good local currency sales growth during financial crises,” Nicholson wrote in a client note.

Logo from Avon.