Avon unveiled its latest technology, Protinol, at its annual Skincare Summit in Manhattan last week where over the course of three days, events were held to educate a cadre of global media and influencers about its ability to restore collagen. Protinol is being hailed as “one of the most exciting discoveries of the decade,” according to Avon executives.
“I’m so lucky that I joined the company when I did,” said Anna Chokina, Avon’s Vice President of Global Face Care and Personal Care. Anna joined Avon 18 months ago from L’Oréal, where she served as GM for L’Oréal Paris in Russia.
“This type of science breakthrough only happens once in a career. I was in awe when I saw the results,” added Anna, who is charged with Avon’s skin care product positioning, trends and innovation.
The Protinol molecule was discovered by Avon eight years ago. But its results were only really identified two years ago. Protinol works to restore both collagen 1 and collagen 3, the two main types of collagen in skin, aiming to bring levels of both of these types of collagen closer to what’s found in baby skin. The product comes in seven potent single-use shots to be used over seven days and aims to restore seven years of collagen loss for plumper, firmer looking skin, said Anthony Gonzalez, Director Skincare Product Development, Avon.
“We discovered a trend within a handful of our formulas that showed wrinkle improvements quicker than others. The thing they had in common was Protinol. One study showed that it didn’t just reduce wrinkles but it also firmed the skin and helped with sagging skin. That’s the holy trinity of anti-aging and we knew we had something magical,” said Anthony.
The company, which was acquired by Natura in May 2019, is in the process of a turnaround. In its most recent financial call with investors, Avon’s third quarter results showed it had increased its cash flow forecast versus a year ago, while total reportable segment revenue decreased 16 percent in reported currency and adjusted total reportable segment revenue decreased 6 percent in constant dollars, driven by unit volume declines from less profitable products. Price/mix increased 9 percent, driven by increases in every segment, as well as in every category.
Avon reps in Central Europe have already begun selling the product. Latin America will follow in March, followed by Central America and Russia in April. Natura does not own rights to sell products in North America; that business is owned by LG Household & Health Care.
“We are seeing already the first days [of sales] are ahead of expectations,” said Anna.