Revlon

Summary

Revlon has developed a long-standing reputation as a colour authority and beauty trendsetter in the world of colour cosmetics and hair care. Since its breakthrough launch of the first opaque nail enamel in 1932 Revlon has provided consumers with high quality product innovation, performance and sophisticated glamour. In 2016 Revlon acquired lizabeth Arden Company and its portfolio of brands including its leading designer, heritage and celebrity fragrances.

Today Revlon’s diversified portfolio of brands is sold in approximately a hundred and fifty countries in most retail distribution channels including prestige, salon, mass and direct to consumer. Revlon is among the leading global beauty companies with some of the world’s most iconic desired brands and product offerings in color cosmetics, skin care, hair care, hair color and fragrances under brands such as Revlon, Revlon Professional, Elizabeth Arden, American Crew, Almay, Cutex, Mitchum, Elizabeth Taylor, Christina Aguilera, Britney Spears, Juicy Couture, Curve, Shawn Mendes and John Varvatos.

History

Cosmetic giant Revlon was founded on March 1, 1932 in New York by brothers Charles and Joseph Revson along with chemist Charles Lachman. It began with a nail enamel, using pigments instead of dyes to develop new shades of nail enamel. In 1937 Revlon retailed it in department stores and pharmacies and, within six years, was a multimillion-dollar company. In 1940 Revlon offered a manicure line and introduced lipstick into the portfolio promoting it with ‘Matching Lips and Fingertips’ campaign. During WWII Revlon created makeup and related products for the United States Army and by the end of the war it was the second cosmetics producer in the United States.

Revlon acquired Graef and Schmidt, a cutlery manufacturer seized by the government in 1943, so it could make manicure and pedicure instruments instead of buying from suppliers. In 1957 the company acquired Knomark and in 1967, US Vitamin and Pharmaceutical Corporation. In 1962 Revlon’s entrance in Japan was a gamechanger. Instead of adapting its advertising and using Japanese models Revlon chose to use iU.S. advertising and models. Japanese women loved the American look and sales that year were estimated at $164 million. On February 28, 1996, Revlon was listed on New York Stock Exchange.

In 1968, Revlon introduced Eterna27, a cosmetic cream with estrogen precursor, Progenitin as well as designer fragrance, Norman Norell. Later, Revlon launched Braggi and Pub for men and wig maintenance brand, Wig Wonder. In 1970, Revlon acquired Mitchum. The following year, Flex shampoo and conditioner was introduced in two years, Revlon introduced Charlie. Targeting the millennial market, model Shelley Hack was representative of the Seventies independent woman and Charlie became a blockbuster, raising Revlon’s net sales to reported $606 million.

The next fragrance, Jontue, was the number two bestseller. Revlon also owns renowned fragrance Jean Nate. In 1975, Charles Revson passed away and Michel Bergerac, President, continued acquisitions with Coburn Optical Industries, Barnes-Hind, Armour Pharmaceutical Company and Lewis-Howe Company. In the mid-Eighties, Revlon lost ground to Estée Lauder but made reparations with more acquisitions including Max Factor, Ellen Betrix, Charles of the Ritz, Germaine Monteil, Almay, Fermodyl, Lancaster, Aziza, Halston and Carlos Colomer.

In the Eighties, Revlon pioneered the phenomenon of ‘supermodel,’ making Cindy Crawford inseparable from Revlon. With everyone’s eyes on the brand, Revlon was acquired at reported $2.7 billion by Pantry Pride — renamed Revlon Group, Inc. — a subsidiary of Ronald Perelman’s MacAndrews and Forbes. The buyout, with the help of Michael P. Milken, burdened Revlon with reported $2.9 billion debt.

Pantry Pride Inc. offered to buy outstanding shares for $47.5 a share and Forstmann Little and Company offered $56 a share, and a bidding war tool place. Perelman won and paid reported $1.8 billion to Revlon shareholders and $900 million towards costs associated with the purchase. In 1991, Revlon sold Clean and Clear to Johnson and Johnson and shortly, acquired Mirage Cosmetics and then Colomer Group from CVC Capital Partners for reported $660 million.

On November 1, 2013 Revlon named Lorenzo Delpani as President and CEO and in the following year elected Roberto Simon as executive vice president and CEO. The company continued its acquisition trail with The Colomer Group, U.K. based fragrance management company CBBeauty and Elizabeth Arden, Inc. In 2016 Gwen Stefani and Ciara kickstarted an era of celebrity endorsement with Revlon, building mass awareness and social influence. Gal Gadot joined as Global Brand Ambassador and Revlon’s Live Boldly campaign encouraged women to express themselves with passion starring Ashley Graham, Adwoa Aboah, Imaan Hammam and Raquel Zimmermann. In May 2018 the company announced Debra Perelman, daughter of Ronald Perelman, as the first-ever female CEO of Revlon.

However, the beauty brand faced a lot of turbulence in the past few years. Per a statement in 2022, Revlon, Inc. filed voluntary petitions for reorganisation under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. This allowed Revlon to strategically reorganise its legacy capital structure and improve its long-term outlook.

“Consumer demand for our products remains strong — people love our brands, and we continue to have a healthy market position. But our challenging capital structure has limited our ability to navigate macro-economic issues in order to meet this demand,” said Debra Perelman, Revlon’s President and Chief Executive Officer, at the time. “By addressing these complex legacy debt constraints, we expect to be able to simplify our capital structure and significantly reduce our debt, enabling us to unlock the full potential of our globally recognized brands.”

The beauty brand emerged from bankruptcy protection as a privately held company with new owners, reduced debt and a new board. Michelle A. Peluso has been appointed Chief Executive Officer of Revlon, effective November 4, 2024 and will be joining the Company’s Board of Directors. Elizabeth (Liz) A. Smith, who has been serving as interim CEO and Executive Chair of the Board since August 2023, will continue in her role as Executive Chair.

Michelle A. Peluso comes to Revlon with a wealth of experience. She most recently served as the Chief Customer and Experience Officer at CVS Health, where she oversaw the end-to-end consumer experience across all channels. She has previously held global Chief Marketing Officer roles at IBM and Citi, and CEO roles at digital commerce pioneers Travelocity and Gilt.

“Today we announced that I will be leaving CVS Health to become CEO of Revlon. It’s a dream job to lead such an accomplished team around the world to ensure the truly beloved brands of Revlon, Elizabeth Arden and the broader portfolio shine for the next generation of beauty shoppers. And I can’t wait to roll up my sleeves and get started right here in my hometown New York City”, her LinkedIn post read.

Vision

At Revlon, the core team envisions maintaining its leadership in the beauty industry by continuously evolving to meet the ever-changing needs and desires of its consumers. With a steadfast commitment to innovation and creativity, Revlon strives to develop high-quality products and services that not only meet but exceed customer expectations. The brand’s vision is to be at the forefront of the beauty landscape, leveraging cutting-edge technology, consumer insights, and global trends to deliver products that resonate with a diverse range of consumers. By anticipating and responding to the demands of the beauty marketplace, the team aims to create products that define beauty standards and set trends across the world.

Revlon is dedicated to ensuring that consumers can engage with our brand in meaningful ways, wherever and however they choose to shop. Whether it’s through brick-and-mortar stores, online platforms, or emerging digital channels, it seeks to provide enjoyable experiences that reflect the brands deep understanding of the modern beauty shopper. By focusing on accessibility, inclusivity, and sustainability, the core team aims to create a future where Revlon remains synonymous with innovation, quality, and beauty. Their vision is to not only lead the beauty industry but to continuously inspire and empower individuals to express their unique beauty, while staying connected to the evolving needs and values of its global audience.

“We are inspired by our founders’ originality, vision, and restless curiosity and share their passion for the business of beauty. We operate responsibly and believe that how we conduct business matters as much as the results we achieve. We are bold, courageous and results-driven and we celebrate individuality in our teams and among the consumers we serve.” Per Revlon’s website.

Mission Statement

Revlon is dedicated to providing beauty products that inspire confidence, self-expression, and empowerment. With a rich history of innovation and a commitment to creating cutting-edge products, Revlon aims to enhance the beauty and well-being of individuals around the globe. The brand seeks to deliver high-quality and accessible beauty solutions that reflect the latest trends while honoring timeless elegance. Through our wide range of cosmetics, skincare, haircare, and fragrance products, Revlon strives to meet the diverse needs of consumers, helping them feel beautiful and confident in their unique identities.

At the core of Revlon’s mission is the belief that beauty is for everyone, regardless of age, gender, ethnicity, or socioeconomic status. We are committed to breaking barriers by offering inclusive products that cater to all skin tones, hair types, and beauty preferences. This inclusive approach reflects Revlon’s values of diversity, representation, and empowerment. By ensuring our products are both affordable and effective, we enable people from all walks of life to experience beauty as a source of confidence and creativity.

Revlon also recognizes the importance of sustainability and ethical practices in the beauty industry. The company strives to minimise its environmental impact by adopting responsible sourcing, reducing waste, and supporting cruelty-free testing methods. The beauty brand’s mission is not just to help people look good, but to also feel good about the choices they make for themselves and the planet. In this manner, Revlon is committed to driving positive change in the beauty world while continuously elevating the standards of innovation, quality, and responsibility.

Key Team

Ronald Perelman (Chairman); Michelle A. Peluso (CEO)

Products and Services

Revlon Inc. is an American multinational company that retails cosmetics, skin care, fragrance and personal care that cater to diverse beauty needs. The company offers products designed to enhance and celebrate the beauty of individuals from all walks of life.

Revlon’s makeup collection includes everything from foundations and concealers to lipsticks, eyeshadows, and mascaras, providing customers with the tools they need to create any look, whether it’s a subtle everyday style or a bold, dramatic statement. With a focus on innovation, Revlon consistently introduces new and trendsetting products that set the standard in the beauty world.

In addition to makeup, Revlon is highly regarded for its skincare and haircare solutions. The skincare line includes a variety of products such as cleansers, moisturizers, and anti-aging treatments that help customers achieve healthy, radiant skin. Revlon’s haircare offerings include shampoos, conditioners, and styling products, as well as hair color solutions that enable users to experiment with new looks or maintain their natural shade.

Revlon also provides a range of fragrances, each crafted to evoke unique emotions and complement personal style. Beyond products, Revlon is dedicated to exceptional customer service, offering beauty consultations and tutorials to help individuals find the right products and techniques to express their unique beauty. This comprehensive approach ensures that Revlon continues to be a trusted name in the beauty industry, providing quality and innovation at every step.

References

• Official website Revlon
• Revlon: One Man Show The New York Times
• Facebook profile of Revlon Facebook
• Revlon Acquires Colomer Group for $660 Million WWD
• Twitter profile of Revlon Twitter
• Revlon to buy Elizabeth Arden The Guardian
• Instagram profile of Revlon Instagram
• Youtube channel of Revlon Youtube
• Brand History Revlon
• LinkedIn profile of Revlon LinkedIn
• Charles Revson of the Revlon Empire Dies The New York Times
• Wikipedia page of Revlon Wikipedia
• Revlon public offering NY Times
• Revlon’s cautionary tale Forbes
• Revlon says so long to Midtown, hello to One New York Plaza NY Post
• Revlon to Donate Over $1 Million Through Its Million Dollar Challenge Revlon
• Revlon, beauty icon in crowded market, files for bankruptcy CTV News
• Cosmetics maker Revlon files for bankruptcy in US BBC