Avon ventures into Korean beauty, first collection to launch in early 2019
today Dec 12, 2018
Cosmetics company Avon has announced it is working on a K-beauty collection with a Korean manufacturer to capitalise on the growing popularity of the trend in Europe and North America.
The skincare collection of masks and hand creams will launch in Russia before rolling out to other European countries in early 2019.
A company founded in 1886, Avon has been struggling to remain relevant in a highly fragmented beauty market. In recent months, the troubled beauty specialist has announced several senior hires to help it continue its turnaround, and the K-beauty launch is likely a strategy to help it boost sales.
This move seems sensible, considering the phenomenon K-beauty has become in North America in the last year.
"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.
"The K-beauty collection brings innovative formulas and authentic ingredients that we do not have anywhere else in our portfolio."
Avon’s K-beauty collection will be developed and manufactured by Bonne, a Korean innovation specialist, using authentic Korean formulas and ingredients such as Cica, Chaga mushrooms and Hydrogel.
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