We've all heard about equities that are sometimes referred to as Peter Lynch stocks -- companies whose products are consumed by the potential investor herself. Buy a lot of Pantene shampoo? Think of Procter & Gamble (NYSE:PG). Love chicken soup (especially when it is in an attractive can)? Take a look at Campbell Soup (NYSE:CPB). Fighting yellow-stained teeth? Then your white knight just might be Colgate-Palmolive (NYSE:CL).

A few of the items from the portfolio of Avon Products (NYSE:AVP) can be found in my cabinet (the stuff for men, of course). I enjoy the ease and simplicity of placing an order with my neighborhood Avon lady and then having it personally delivered to my door. And after checking out the pulchritudinous results Avon reported last week for the first quarter, I wondered, in tantamount fashion to Seth Jayson's musings, what it would have been like to ignore valuation concerns in the recent past and actually take part in the subsequent growth of the company (it would have felt great, I'm sure).

Avon earned $0.62 per share on a diluted basis for the first quarter, compared to $0.42 per diluted share the prior year. That's a 48% EPS increase -- quite lovely. Even lovelier was the double-digit sales growth of 19% to $1.75 billion this quarter.

Chairwoman and CEO Andrea Jung -- who has been listed as one of the most influential female business leaders -- credited the European and Latin American markets as important drivers of the results. She also cited the positive influence of currency exchange. Nevertheless, revenues were genuinely robust of their own accord. Earnings guidance for 2004 given by Jung improved from a previous prediction of $3.18 - $3.20 per share to the possibility that $3.30 might be achieved.

Investors were quite pleased, bidding the stock higher after the report. Can't say I blame them. This is a strong, trusted brand with a unique and famous distribution model -- that of the Avon Lady -- and it is in an industry that is bound to attract a lot of attention by defensive investors for volatile markets that make one reach for the Dramamine. I would have to imagine that going forward, the stock could find a comfortable range to go back and forth in, since it already has displayed such vigorous relative strength. But this could be a stock for long-term players, an add-on-the-dips kind of vehicle.

That's it for me. I hear the doorbell. Might be the Avon Lady, adding more value for the shareholder.

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Fool contributor Steven Mallas owns none of the companies mentioned.