Avon partners with Korean
manufacturer to bring innovative formulas and authentic ingredients
to customers
LONDON, Dec. 12, 2018 /PRNewswire/ -- Avon Products, Inc.
(NYSE: AVP) a globally recognised leader in direct selling of
beauty products, today announces another step in its transformation
with the introduction of its first K-beauty collection – a new and
innovative range of products straight from Korea – the home of
skincare innovation. The collection is being introduced in
Russia before rolling out to other
European markets in early 2019.
As part of Avon's plans to
embrace an open eco-system through new alliances to optimise
manufacturing and distribution, the collection is developed in
partnership with Korean innovation experts, Bonne, a leading
developer and manufacturer of luxury beauty. This new product range
is made in Korea using authentic formulas and ingredients,
harnessing the high performance, wonderful texture and eye-catching
designs that are iconic in K-beauty products.
The collection of masks and hand creams use top quality, cutting
edge ingredients including Cica, Chaga mushrooms and
Hydrogel. Avon's Hydrogel
masks are unlike many others on the market because they are free
from mesh or nets that most products on the market need to overcome
ripping issues – making Avon's
product experience more luxurious and indulgent.
"Korean beauty is expected to hit $13.1
billion by 2020* – it's the fourth largest skincare market
in the world," commented Louise
Scott, Avon's Chief
Scientific Officer. "Avon has a
rich history in world-class innovation and when combined with
something as on-trend as K-beauty and the digitisation of our
business it's exciting for our customers and Representatives. The
K-beauty collection brings innovative formulas and authentic
ingredients that we do not have anywhere else in our portfolio.
It's a thrilling evolution in our mission of making top quality
products available to everyone."
Avon is a global brand whose
mission is to democratize beauty – giving women all over the world
access to latest products. For over a century Avon has been bringing high quality,
innovative and on-trend beauty at an accessible price point.
Avon's business model is
fundamental to democratising beauty – Avon Representatives provide a personalised
service whilst taking cutting-edge beauty to customers
everywhere.
This programme marks the latest milestone in Avon's transformation - working with third
parties and rapidly delivering on-trend products to meet local
market needs.
*Based on Euromonitor data
About Avon Products, Inc.
Avon is the Company that for 130 years has proudly stood
for beauty, innovation, optimism and, above all, for
women. Avon products include well-recognized and beloved
brands such as ANEW, Avon Color, Avon Care, Skin-So-Soft, and
Advance Techniques sold through approximately 6 million active
independent Avon Sales Representatives. Learn more
about Avon and its products
at www.avoncompany.com.
Forward-Looking Statements
This material contains "forward-looking statements" that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, including statements
relating to product launches and Avon's transformation. Because forward-looking
statements inherently involve risks and uncertainties, actual
future results may differ materially from those expressed or
implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to, the possibility of
business disruption, competitive uncertainties, and general
economic and business conditions in Avon's markets as
well as the other risks detailed in Avon's filings with
the Securities and Exchange Commission. Avon undertakes
no obligation to update any statements in this material after it is
posted to the Investor Relations section of our website.