I bought the colors in V1 and V4. What the product claims:

-"Velvet - silky touch and matte finish to deliver vivid color and creamy wear"

The finish is velvet and smooth. The formula is indeed a matte finish. I do enjoy using this product but the downside of this it how awful the applicator is. When using it, the doe foot tends to take way too much product and it is hard to apply onto the lip. I am going to assume the stopper is too big for the size(?). I had to use a lip brush or my finger to apply this. I had issue with one of the product that it was leaking in my bag. I am going to assume it is from the oil which the product contained. My fault was taking the doe foot with the product and smearing on the side of the tube to get less of the product. Which I had closed the product tightly and the product on the side probably had been pushed down from the cap. And it caused the leaking of the oil(?). This was the cause of the leaking in my bag. So I want to warn that this product may leak if not stored correctly, upright position.

It is also best if you use this with a lipliner close to the product's color for a longer wear-off.

-K