In the age of personalization, ranging from custom music recommendations, ad browsing and social media targeting, and Netflix recommendations, we are seeing personalization enter realms of consumer products not seen before. With customers seeking solutions for a variety of skin ailments that can stem from lifestyle, diet, and environmental issues, skincare has not typically been something that can be easily purchased on store shelves in a mass-produced solution.
PROVEN, the expert in adaptive personalized skincare, recently announced its international expansion into the European Union and the United Kingdom, in the company's first international expansion since it launched in Canada in July 2021. This entry to new markets comes after a period of extraordinary growth for the company, which includes the launch of its first new product since 2019, the Eye Cream Duo, and having been granted a groundbreaking patent that protects PROVEN's use of personalization in skincare.
As consumers are seeing with the customization boom, segmenting people into a few skin types is actually an oversimplification imposed by mass skincare brands. People know their own skin better than anyone else, but what many don't know, however, is that there are many factors that contribute to skin health such as climate, lifestyle, age and heritage. New age beauty brands harnessing the power of AI believe people will get the best results when all of these factors are addressed.
Too many consumers still rely on one-size-fits-all skincare products that do not take into account their unique concerns and needs. PROVEN provides personalized, adaptive, effective skincare solutions that take into account a person's skin, life, and environment.
Personalizing products to a large consumer base is not an easy task, and requires big data assets. In order to provide personalized skincare to customers across the European Union and the United Kingdom, the PROVEN team gathered extensive environmental data about the region and executed a major tech build to incorporate it into PROVEN's existing AI. Integrating local environmental conditions into the skincare formulas is essential for effective skincare products.
PROVEN creates simple, personalized, and clinically proven skincare products at scale thanks to its proprietary Skin Genome ProjectTM - the largest beauty database on earth. The Skin Genome ProjectTM analyzes the effectiveness of over 20,238 skincare ingredients, combines information about over 100,000 individual products (luxury, prescription, generic, etc.), harnesses over 20 million testimonials from real people, analyzes over 4,000 scientific publications, and even takes into account the water hardness, humidity level, and UV index where a customer lives.
PROVEN was founded in 2017 by me, Ming Zhao, and Dr. Amy Yuan and launched in 2019. I was in the midst of a career in private equity, working long hours when I began to notice the quality of my skin was suffering. So I embarked on a personal mission to find products to solve her problems but found that most were expensive, didn't work consistently, and the trial and error of trying to find something that worked was time-consuming.
I brought this up with her friend Amy, who just so happened to be a Computational Physicist at Stanford, who was having her own skin challenges. Recognizing that the beauty industry lacked a brand that offered personalized and effective solutions, the two of us joined forces to create a holistic, personalized approach to skincare that is completely backed by data. The result was PROVEN, which harnesses the power of big data and AI to create personalized skincare products.
The beauty space is incredibly crowded, and consumers are faced with endless options and thousands of brands and celebrities telling them what they need without knowing a single thing about them. The era of skincare as unique as your own body is here, and consumers are gaining more confidence and empowerment from the opportunity to customize their products to meet their needs.
Since its founding in 2017 and launch in 2019, PROVEN Skincare has grown rapidly to become the leading skincare personalization brand. The company has launched five products personalized to customers' unique needs, received the 2018 MIT Artificial Intelligence Technology Award, was awarded Best Use of Technology at the 2022 Glossy Beauty Awards for its proprietary Skin Genome ProjectTM, and reached more than $30 million in revenue in just three years.
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