Multi-level cosmetics company Mary Kay revealed it has closed its Australian and New Zealand operations, blaming weak consumer conditions for the failing business.

The company said in a statement it ceased business immediately with the sales force network given until April 6 to return any unsold products.

"It is a decision Mary Kay has not taken lightly," it said.

"A combination of market conditions across Australia and New Zealand are such that the business does not see a sustainable future in either markets.

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"Mary Kay will be focusing on its core growth markets across the globe."

According to Forbes, Mary Kay's global independent sales force exceeds 3.5 million people in 40 countries, with revenue of US$3.6 billion ($5.6b) in 2018.

The multi-level company has been accused over the years for its strategy and seduction of its sales force team, with a journalist reporting for Harper's in 2012 it was merely a "pink pyramid scheme".

"A business in which only a select few earn real money while everyone else pays to play sounds a lot like a pyramid scheme," reporter Virginia Sole-Smith said at the time.