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(I don’t see an edit button) I meant to say, there is no effective strategy in place.
Hi think the price change and messaging HAD TO HAPPEN and believe course corrections do not happen quickly when there is an effective strategy in place for Daxxify commercial launch other than what’s already been mentioned.
I stand by what I said on 3/31/24 .”Like other Neurotoxins individual results vary. Improved skin texture/tone is the big differentiator for me personally.”
When I worked for Allergan we used Lippe Taylor for some but not all ads and marketing materials. We did create and produce our own marketing materials and photo shoots and social media campaigns about 30 percent of the time with success.
It’s kind of embarrassing that a year ago Daxxify was presented as an elite allocated product to create FOMO demand and now Daxxify is being pitched by a minor mom influencer, it’s like we don’t even know who or what we are. Vogue and Time Magazine and the pendulum swing to this? Consumers remember in the moment what is right in front of them and this is cringeworthy. 😕
Allergan has a great strategy here. They’ve got deep enough pockets to hire million dollar influencers (Kris Jenner promoting Botox gift cards) and they keep it more grassroots with casting calls. Revance is using C tier influencers because of budget constraints and the scripting/performance at that level can feel contrived. There is no marketing team left, so everything we see in near future will be outside agency generated with the agency fee taking the biggest bite out of marketing budget. There is no effective strategy in place at this time.
Well leadership doesn’t communicate. All we have to go by is who is here to support product marketing and launches.
We no longer have a team to support Daxxify aesthetics relaunch efforts, we have no staff to launch therapeutics for CD. Everyone is gone - IR and Comms teams resigned. Media, PR, and investor relations has been outsourced. Not a great indicator.
I’m referring to previous posts regarding the mall events and Erica posing in front of a wrapped vehicle. Those were not successful events by any stretch. This is just social media marketing.
There are plenty of organic social posts that are real and are favorable from top Derms and injectors.
Hi. Answering your question about stock grants. I’m referring to vested stock units as part of negotiated signing compensation, vested stock units that were grants (still as negotiated compensation in lieu of annual raises) and employee purchased stock. The first two are earned as part of compensation and in my case I paid $48k for employee purchase stock over a period of 4 years that grew exponentially. We could not sell these during long black out periods. I also have Restricted Stock units that have not vested that aren’t worth much at this point.
I don’t think of this as a freebie or a windfall. It’s deferred compensation and money I earned and invested. 😞
This is the most considerate post I’ve read here.
As a current Revance employee it’s been hard to read many statements here not based in reality, a truth that those of us who are living it daily know.
More difficult are comments here about my colleagues losing their jobs as “cutting the fat” or “losers in marketing” or worse “good riddance”, as if applauding the indescribable loss of livelihoods and many millions in employee stock grants and purchases that have disappeared overnight.
We are not “savvy investors”, and a lot of us have never sold a single share of Revance stock. We are humans first, and employees with kids, babies on the way, student loan debt, mortgages, retirement plans. Our compensation packages were initially structured where Revance stock was big financial motivator to stay. We also believe(d) in the product but not in Dustin and Mark’s strategy, yes Mark was in on it. It was a strategy I quietly questioned.
When stock began to fall employees were on long black out periods and could not sell, so we were offered revised comp packages with more stock incentives to keep us working tirelessly to support a marketing strategy most of us didn’t believe in.
Our executive leaders have been kept in the dark and axed too with no notice. Our CEO has yet to hold a town hall, nor has he sent a company-wide email of encouragement. There is a complete lack of transparency or compassion in the rest of the C-suite.
When this forum is encouraged by Revance social media posts and Erica posing in front of a Power to the Peptide wrapped car I shared they shouldn’t be, it’s straight up advertising. It’s not that I hate Revance and Daxxify or want it to fail, quite the opposite, my attempt here was to provide information that could curb false speculation. More to the point my posts were meant to say, if you are basing financial decisions on Revance social media posts, please don’t.
To date I have lost almost $400k in Revance stock, I imagine some of my colleagues with bigger titles or longer stints have lost a lot more, but that’s a life changing amount of money for me.
Working at Revance is as Emmanow said, “sad”. It’s also like walking barefoot on a tight rope laden with shards of glass. We don’t sleep at night with worry, by day it’s hard to focus on work. Any day now I’ll get an HR meeting added to my calendar late at night and at 8 am I’ll log on from home for a 2 minute conversation to inform me I’m another Revance casualty with a 2 month severance. At the end of that call my laptop will instantly lock and the Revance waking nightmare I’ve been living will end.
Thank you Emmanow for showing some real compassion here. 🙂
It’s not updated. She’s gone as of last week.
Yes, she resigned. I agree, a terrific person. Never known her to complain, but the amount of stress on her role has been tremendous
Can Revance make a comeback? I ask myself that question everyday. Love to see it happen. Everyone on the inside is eggshell walking. And what you all see publicly is not exactly the real deal.
My team has worked hard to bring it to market and I couldn’t do this job if I wasn’t drinking the kool-aid 🤣, we want it to succeed. Derms we specifically trained on Daxxify love it. Like other Neurotoxins individual results vary. Improved skin texture is the big differentiator for me personally.
I am still with the company for now. Head of IR resigned last week.
Granted stock at signing @ $37, granted again @$29, bought at $23 at a discount, granted again at $18 and vested RSUs are now at $5. It’s painful to be honest. It’s not trash talking, its reality and we obviously would love to see it turn around but from the inside the methodology/strategy is unlikely to get us anywhere close to baseline.
The OC and LA mall events on March 19/March 21 being promoted on social channels.
This media material is heavily edited of course. We had more Revance employees/paid influencers attend than guests. 100 RSVPs and only 25% showed. 😞 Even if 100 had showed, it’s not boosting measurable market share.
Unfortunately these mall events had very low turn out and exposure, we need to go BIG but lack of marketing funds has resulted in “spin the wheel” marketing. An effective relaunch will require a lot more funds and sophistication.
It’s been in place since late last summer, but put on pause (held back from rollout) during the Sjuts/Conway/Jordan shuffle.
Every new hire gets dangling carrot. Sadly, rare anyone lasts long enough to collect all 4 years.
Vinmantoo — I don’t recall mentioning anything about Daxxify sales. Lackluster response to mall promotional events, yes, sales nope.
Answering your questions:
1. I work for a biotech company with a new to market “longer lasting neurotoxin”
2. West Coast
3. See answer 1 above
4. No compensation, in fact me and my ‘friends’ have lost hundreds of thousands. I’d love to see this turnaround.
I have an MBA, over 40, thanks. AI posts — not a bad idea.
Warn Act applies to a lay off of a min 50 employees within a 30 day period. Revance is letting go less than 50 employees at a time on average about 40-60 days apart. Warn Act doesn’t apply to layoffs of strictly remote employees — ALL of the remaining Irvine office employees are strictly remote.
Tighter ship — more like an overworked skeleton crew.
Reporting what I know for sure.
Inside Source is 100% solid.
Manufacturing lay offs and Irvine office closed, two different locations, both happened. More Marketing layoffs yesterday, few left, mostly new and/or junior marketers remain.
Correction — manufacturing layoffs.
R&D layoffs last week. Irvine, CA office closed a month ago (it’s being marketed for immediate sublease). Lackluster response to Daxxi events at shopping malls. Has a going out of business vibe.