“K-beauty is expected to be a $13 billion market by 2020 and not only are they at the head of trends, it’s their approach to beauty that makes them so unique. Everything starts with, ‘How do you take the best possible care of your skin?’” said chief scientific officer Louise Scott.
The company is eager to adopt this new way of thinking and to stay ahead of the curve. “We want to be in there as quick as possible,” Scott said, adding that launching in Russia was a natural first step for the brand.
According to Chris Wermann, group vice president and chief communications officer at Avon, Russia is one of its top three biggest markets and the company has also seen a growing interest toward K-beauty products among the country’s younger consumer. The line will then roll out in the U.K. and other European markets.
Avon’s longstanding ethos of democratizing beauty will also apply to the K-beauty line. “We are expanding globally and making the products accessible to consumers from a price perspective as well as ease of purchase,” Scott said.
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The social-selling company will provide its representatives with training around ritual regimes such as the seven-step skin-care method, a regime that originated from South Korea.
Avon isn’t just jumping in on the trend, they are committed to producing authentic products. “We source our products from [South] Korea, and we have a Korean partner that can provide us with the innovation that K-beauty is known for to create this lineup.
We are working with Bonne Co, who are one of the leading developers of luxury beauty, and it’s exciting because they have an enormous range of different, exciting and interesting new trends,” Scott said.
Products that will be launching with the K-beauty line include a face mask made with Cica, which helps to calm irritated skin, and Chaga mushrooms, which Scott claims are cutting-edge ingredients alongside hydrating eye masks and a lip jelly mask. Products begin retailing at 2.75 pounds for a sheet mask and go up to 6 pounds for a jar of night mask.
Product innovation has been a key area of focus for Avon and because of this, the beauty company was able to go to market in 22 weeks. The launch is only made available online, which will enable their speed to market and overall digital strategy.
“With the penetration of smartphones in Russia and expectations of being able to interact with them is how our products have been exponentially increasing. We are also using digital animations online, what we like to call beauty entertainment. Consumers not only want to be satisfied but entertained and have sharable content,” said Wermann, who added he’s also seen an increase in consumers purchasing sets over single products when it comes to online shopping.