By Gabriela Mello
SAO PAULO, Jan 6 (Reuters) - Brazilian cosmetics group Natura & Co NTCO3.SA has raised its estimates for annual cost savings stemming from its acquisition of Avon Products AVP.N, but is still calculating the potential impact on revenue, executives said on Monday.
The company now sees cost savings of $200 million to $300 million per year within the next 36 months, more than the $150 million to $250 million estimated in May, when it agreed to buy rival Avon AVP.N through a share swap, creating the world's fourth-largest beauty company.
"We are quantifying potential revenue synergies as we speak," Natura & Co's Chief Executive Officer and Chairman Roberto Marques told analysts and investors in a call to discuss the integration with Avon.
With its acquisition of Avon, Natura & Co will have 6.3 million sellers and more than 3,500 stores worldwide, operating in 100 countries and reaching more than 200 million consumers.
Marques, who joined Natura's board four years ago and spearheaded a global expansion that included the acquisition of The Body Shop in 2017, said the cost savings with Avon will be captured mostly in Brazil and other Latin American countries.
He noted that Natura & Co is likely to provide more details on the integration of the companies in an Investor Day scheduled for April 24, when it will also disclose guidance.
Natura & Co will host a second event in New York between October and November to unveil a combined strategic business plan, Marques said.
Shares in Natura & Co were up 5.5% to 43.26 reais in morning trading, leading gains among stocks listed on Brazil's main index .BVSP.
(Reporting by Gabriela Mello Editing by Louise Heavens and Paul Simao)
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