On the back of launching its latest anti-aging product, cosmetics company Avon states that it expects its skin care segment to post double digit growth this year.
The company launched its Anew Clinical Pro Line Eraser Treatment, hopeful of success in Malaysia and other regions, having seen the product take off in the UK, the US and in Australia already.
Speaking to the Malaysian News Agency Bernama, the direct seller’s head of Commercial Marketing said that the firm’s skin care segment was the fourth main revenue contributor to the company's bottom-line, and expects it to grow by 10 percent in 2013.
Aspalin Sirat said the company hoped the new anti-aging product would become popular among customers in Malaysia and drive the segments sales forward.
Avon developed the new anti-aging line in alliance with the NeoStrata Company, a global leader in topical anti-aging technologies, and the formulation leverages the power of A-F33, Aminofill 33; the patented molecule in this treatment.
In this new treatment, A-F33, Aminofill 33, works to improve the texture of the under-eye area and smoothes the look of fine lines.
According to Aspalin, the product will be available at all Avon boutiques from March 1, and would sell for RM159 in Peninsular Malaysia and RM182.85 in Sabah and Sarawak.
On the company’s expansion exercise, she said Avon, for now, would consolidate its position as it already had 200 Avon boutiques operating, nationwide, which was more than adequate to cater for demand.
It is a welcome piece of good news for Avon, particularly in the Asia-Pacific region, having recently announced it will pull out of the South Korea and Vietnam markets and cut 1500 jobs worldwide as it continues to look for ways to stabilize the business at a turbulent time.
The US-based company outlined this plan as it looks to take its initial steps toward the company's previously communicated annual cost-savings target of $400 million by the end of 2015.